North Star Investment Management Corp. Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

North Star Investment Management Corp. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,438 shares of the coffee company’s stock after buying an additional 133 shares during the quarter. North Star Investment Management Corp.’s holdings in Starbucks were worth $4,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the 2nd quarter worth $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new position in Starbucks during the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks during the 2nd quarter valued at about $31,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated 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 directly owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent research reports. TD Cowen reissued a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, October 23rd. Barclays lowered their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, BMO Capital Markets raised their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Price Performance

Shares of SBUX traded down $0.54 during midday trading on Tuesday, hitting $96.49. The stock had a trading volume of 1,363,990 shares, compared to its average volume of 11,241,658. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a market cap of $109.34 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 3.17 and a beta of 0.97. The stock’s 50 day moving average is $96.00 and its 200 day moving average is $85.53.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 EPS. As a group, equities research analysts expect that Starbucks Co. will post 3.22 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 68.88%.

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.