Starbucks Co. (NASDAQ:SBUX) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,170 shares of the coffee company’s stock after purchasing an additional 498 shares during the quarter. Summit Trail Advisors LLC’s holdings in Starbucks were worth $1,674,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC raised its position in shares of Starbucks by 9.6% during the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after purchasing an additional 385 shares during the period. Waverly Advisors LLC lifted its stake in Starbucks by 128.8% in the first quarter. Waverly Advisors LLC now owns 11,994 shares of the coffee company’s stock valued at $1,096,000 after buying an additional 6,753 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its holdings in shares of Starbucks by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 3,395 shares of the coffee company’s stock valued at $310,000 after acquiring an additional 143 shares during the period. Fairbanks Capital Management Inc. bought a new position in shares of Starbucks during the first quarter worth about $767,000. Finally, Sweeney & Michel LLC bought a new stake in Starbucks in the 1st quarter valued at about $621,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 2.4 %

NASDAQ:SBUX opened at $102.50 on Monday. The firm has a market capitalization of $116.21 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.60. The stock’s 50 day moving average price is $97.11 and its two-hundred day moving average price is $87.19.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the business earned $1.06 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is 73.72%.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SBUX shares. DZ Bank lowered 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. BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.81.

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.