Souders Financial Advisors Invests $244,000 in Starbucks Co. (NASDAQ:SBUX)

Souders Financial Advisors bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the third quarter, Holdings Channel.com reports. The fund bought 2,505 shares of the coffee company’s stock, valued at approximately $244,000.

Other large investors have also recently bought and sold shares of the company. Empower Advisory Group LLC lifted its position in shares of Starbucks by 9.3% in the 3rd quarter. Empower Advisory Group LLC now owns 1,333,250 shares of the coffee company’s stock worth $129,979,000 after acquiring an additional 113,501 shares during the period. RPG Investment Advisory LLC increased its position in shares of Starbucks by 1.5% during the third quarter. RPG Investment Advisory LLC now owns 88,206 shares of the coffee company’s stock valued at $8,599,000 after purchasing an additional 1,295 shares during the period. Carrera Capital Advisors acquired a new position in shares of Starbucks in the third quarter valued at $616,000. Aptus Capital Advisors LLC lifted its position in Starbucks by 6.7% in the third quarter. Aptus Capital Advisors LLC now owns 13,185 shares of the coffee company’s stock worth $1,285,000 after purchasing an additional 833 shares during the period. Finally, Platform Technology Partners boosted its stake in Starbucks by 12.0% during the third quarter. Platform Technology Partners now owns 21,470 shares of the coffee company’s stock worth $2,093,000 after buying an additional 2,296 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 1.0 %

SBUX stock opened at $99.80 on Thursday. The stock has a 50-day moving average price of $96.30 and a two-hundred day moving average price of $85.93. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a market cap of $113.09 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97.

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

Starbucks Increases Dividend

The firm also recently disclosed 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 2.44%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is currently 68.88%.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Morgan Stanley raised their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Monday. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.31.

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.