Nations Financial Group Inc. IA ADV Decreases Position in Starbucks Co. (NASDAQ:SBUX)

Nations Financial Group Inc. IA ADV cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 38,597 shares of the coffee company’s stock after selling 148 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Starbucks were worth $3,763,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Versor Investments LP acquired a new position in shares of Starbucks in the third quarter worth about $1,130,000. Jaffetilchin Investment Partners LLC raised its position in shares of Starbucks by 10.9% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 8,984 shares of the coffee company’s stock valued at $876,000 after purchasing an additional 886 shares in the last quarter. Core Wealth Partners LLC boosted its stake in shares of Starbucks by 32.0% during the 3rd quarter. Core Wealth Partners LLC now owns 5,863 shares of the coffee company’s stock valued at $572,000 after buying an additional 1,422 shares during the last quarter. Weil Company Inc. grew its position in shares of Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after buying an additional 8,222 shares in the last quarter. Finally, Delta Financial Advisors LLC increased its stake in shares of Starbucks by 13.1% in the third quarter. Delta Financial Advisors LLC now owns 22,246 shares of the coffee company’s stock worth $2,169,000 after buying an additional 2,569 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’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. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks 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 transaction, the director now directly 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 filing with the SEC, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Up 3.5 %

Shares of NASDAQ:SBUX traded up $3.46 during trading on Monday, hitting $101.01. 2,237,749 shares of the company were exchanged, compared to its average volume of 11,167,008. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market capitalization of $114.46 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97. The business’s 50 day moving average is $96.07 and its 200-day moving average is $85.77.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion for 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 business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.42%. Starbucks’s dividend payout ratio is presently 73.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SBUX shares. Barclays decreased their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. BMO Capital Markets lifted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Two 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.32.

About Starbucks

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.