Crossmark Global Holdings Inc. Acquires 124,057 Shares of Starbucks Co. (NASDAQ:SBUX)

Crossmark Global Holdings Inc. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 227.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 178,634 shares of the coffee company’s stock after purchasing an additional 124,057 shares during the period. Crossmark Global Holdings Inc.’s holdings in Starbucks were worth $17,415,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Baker Avenue Asset Management LP bought a new position in Starbucks in the third quarter valued at about $215,000. Round Rock Advisors LLC bought a new position in Starbucks in the third quarter valued at about $218,000. Mayflower Financial Advisors LLC bought a new position in Starbucks in the third quarter valued at about $218,000. Legacy Capital Wealth Partners LLC bought a new position in Starbucks in the third quarter valued at about $267,000. Finally, Sigma Planning Corp boosted its holdings in Starbucks by 5.9% in the third quarter. Sigma Planning Corp now owns 20,323 shares of the coffee company’s stock valued at $1,981,000 after acquiring an additional 1,131 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock traded up $1.43 during midday trading on Friday, reaching $97.55. The stock had a trading volume of 6,118,742 shares, compared to its average volume of 7,867,492. The firm’s fifty day simple moving average is $96.07 and its 200-day simple moving average is $85.81. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The stock has a market capitalization of $110.54 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 2.83 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. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the firm earned $1.06 EPS. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 68.88%.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 directly owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, 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. 1.98% of the stock is owned by insiders.

Analysts Set New Price Targets

SBUX has been the topic of several recent research reports. Bank of America decreased their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

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.