Capital Performance Advisors LLP Acquires New Holdings in Starbucks Co. (NASDAQ:SBUX)

Capital Performance Advisors LLP bought a new position in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 725 shares of the coffee company’s stock, valued at approximately $71,000.

Several other large investors have also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the second quarter valued at approximately $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at $26,000. Stephens Consulting LLC lifted its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Starbucks in the second quarter worth $27,000. Finally, Olistico Wealth LLC bought a new position in Starbucks in the second quarter valued at $31,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $97.55 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market capitalization of $110.54 billion, a PE ratio of 29.47, a P/E/G ratio of 2.78 and a beta of 0.97. The firm’s 50-day moving average price is $96.07 and its 200-day moving average price is $85.81.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the company earned $1.06 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. Equities analysts anticipate that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.50%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is 68.88%.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SBUX shares. Morgan Stanley lifted their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BTIG Research boosted their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wedbush reduced their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.