RPG Investment Advisory LLC Has $8.60 Million Stake in Starbucks Co. (NASDAQ:SBUX)

RPG Investment Advisory LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,206 shares of the coffee company’s stock after buying an additional 1,295 shares during the period. RPG Investment Advisory LLC’s holdings in Starbucks were worth $8,599,000 at the end of the most recent quarter.

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

Starbucks Price Performance

SBUX opened at $98.80 on Wednesday. The company has a market capitalization of $111.96 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.97. The firm’s fifty day moving average price is $96.19 and its two-hundred day moving average price is $85.86. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is presently 68.88%.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated 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 $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. UBS Group raised their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Barclays dropped their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

About Starbucks

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.