OneDigital Investment Advisors LLC Purchases 7,636 Shares of Starbucks Co. (NASDAQ:SBUX)

OneDigital Investment Advisors LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 18.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,403 shares of the coffee company’s stock after acquiring an additional 7,636 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Starbucks were worth $4,816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC lifted 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 last quarter. Spirepoint Private Client LLC acquired a new position in shares of Starbucks during the first quarter worth approximately $371,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks in the first quarter valued at approximately $415,167,000. Allstate Corp grew its stake in shares of Starbucks by 43.0% in the first quarter. Allstate Corp now owns 3,468 shares of the coffee company’s stock worth $317,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its position in Starbucks by 2.5% during the first quarter. Jacobi Capital Management LLC now owns 16,136 shares of the coffee company’s stock worth $1,475,000 after acquiring an additional 401 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SBUX. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. UBS Group lifted their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $98.42 on Friday. The business has a fifty day moving average of $96.60 and a 200-day moving average of $86.12. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a market cap of $111.53 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the company posted $1.06 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.48%. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.98% of the company’s stock.

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.