Starbucks Co. (NASDAQ:SBUX) Shares Acquired by DT Investment Partners LLC

DT Investment Partners LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 39.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 428 shares of the coffee company’s stock after acquiring an additional 121 shares during the quarter. DT Investment Partners LLC’s holdings in Starbucks were worth $42,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brookstone Capital Management raised its stake in shares of Starbucks by 18.7% in the first quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock worth $2,042,000 after purchasing an additional 3,516 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in Starbucks by 21.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,929 shares of the coffee company’s stock worth $907,000 after buying an additional 1,766 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Starbucks during the 1st quarter valued at approximately $58,000. Symphony Financial Ltd. Co. boosted its holdings in shares of Starbucks by 4.3% in the 1st quarter. Symphony Financial Ltd. Co. now owns 4,397 shares of the coffee company’s stock valued at $402,000 after acquiring an additional 182 shares during the last quarter. Finally, Coston McIsaac & Partners increased its stake in shares of Starbucks by 1.9% in the first quarter. Coston McIsaac & Partners now owns 52,768 shares of the coffee company’s stock worth $4,822,000 after acquiring an additional 981 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $97.31 on Friday. The stock has a 50 day moving average price of $95.43 and a 200 day moving average price of $84.98. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a market capitalization of $110.22 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is currently 67.22%.

Analysts Set New Price Targets

SBUX has been the topic of several recent research reports. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday. BTIG Research upped their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley lifted their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.48.

Starbucks 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.