Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Claro Advisors LLC

Claro Advisors LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 35.8% during the third quarter, Holdings Channel.com reports. The fund owned 16,955 shares of the coffee company’s stock after purchasing an additional 4,474 shares during the quarter. Claro Advisors LLC’s holdings in Starbucks were worth $1,653,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC raised its stake in shares of Starbucks by 7.5% in the 3rd quarter. RiverPark Advisors LLC now owns 7,886 shares of the coffee company’s stock valued at $769,000 after acquiring an additional 551 shares during the period. Ceera Investments LLC lifted its stake in shares of Starbucks by 1.7% during the third quarter. Ceera Investments LLC now owns 36,954 shares of the coffee company’s stock worth $3,603,000 after purchasing an additional 605 shares in the last quarter. Alpha Family Trust acquired a new position in shares of Starbucks during the third quarter worth about $908,000. Tower Bridge Advisors boosted its position in shares of Starbucks by 43.7% in the third quarter. Tower Bridge Advisors now owns 5,391 shares of the coffee company’s stock worth $526,000 after buying an additional 1,640 shares during the period. Finally, Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Starbucks in the third quarter valued at about $620,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value 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. This trade represents a 1.06 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Starbucks stock opened at $98.42 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market capitalization of $111.53 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.85 and a beta of 0.97. The company has a 50-day simple moving average of $96.75 and a 200-day simple moving average of $86.18.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company 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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 68.88%.

Analyst Ratings Changes

A number of equities analysts have weighed in on SBUX shares. Stifel Nicolaus upped their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Wedbush dropped their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.81.

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.