SevenBridge Financial Group LLC Has $801,000 Stake in Starbucks Co. (NASDAQ:SBUX)

SevenBridge Financial Group LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 54.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,489 shares of the coffee company’s stock after buying an additional 3,682 shares during the period. SevenBridge Financial Group LLC’s holdings in Starbucks were worth $801,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Starbucks by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 101,414,654 shares of the coffee company’s stock valued at $9,225,691,000 after acquiring an additional 2,733,608 shares in the last quarter. BlackRock Inc. grew its stake in Starbucks by 10.3% in the fourth quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock valued at $9,645,766,000 after purchasing an additional 7,672,037 shares in the last quarter. State Street Corp increased its position in shares of Starbucks by 3.5% during the 4th quarter. State Street Corp now owns 48,495,841 shares of the coffee company’s stock worth $5,672,559,000 after purchasing an additional 1,649,721 shares during the last quarter. Fundsmith LLP raised its stake in shares of Starbucks by 7.7% during the 4th quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company’s stock worth $1,354,132,000 after purchasing an additional 831,723 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Starbucks by 28.0% in the 1st quarter. Capital Research Global Investors now owns 10,948,617 shares of the coffee company’s stock valued at $995,996,000 after buying an additional 2,395,500 shares during the last quarter. 67.97% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $90.86 on Monday. The business’s 50 day moving average price is $85.13 and its two-hundred day moving average price is $81.35. The firm has a market cap of $104.25 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.46 and a beta of 0.94. Starbucks Co. has a 52-week low of $68.39 and a 52-week high of $117.80.

Starbucks (NASDAQ:SBUXGet Rating) last issued its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same quarter last year, the firm earned $1.01 EPS. Research analysts predict that Starbucks Co. will post 2.88 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is currently 55.21%.

Insiders Place Their Bets

In related news, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total value of $373,860.00. Following the completion of the sale, the executive vice president now owns 36,337 shares of the company’s stock, valued at approximately $3,379,341. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Zabrina Jenkins sold 4,020 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $93.00, for a total value of $373,860.00. Following the sale, the executive vice president now owns 36,337 shares in the company, valued at approximately $3,379,341. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mellody L. Hobson bought 54,750 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was bought at an average price of $92.58 per share, for a total transaction of $5,068,755.00. Following the acquisition, the director now directly owns 433,254 shares of the company’s stock, valued at $40,110,655.32. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SBUX shares. Wedbush raised their price target on Starbucks from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, September 14th. Piper Sandler raised their target price on shares of Starbucks from $84.00 to $92.00 and gave the company a “neutral” rating in a report on Friday. Barclays raised their target price on Starbucks from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, September 14th. Cowen increased their target price on shares of Starbucks from $94.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Finally, Cowen upped their price objective on shares of Starbucks from $94.00 to $104.00 in a research report on Thursday, August 18th. Fifteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $104.71.

Starbucks Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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