PYA Waltman Capital LLC Purchases 647 Shares of Starbucks Co. (NASDAQ:SBUX)

PYA Waltman Capital LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,966 shares of the coffee company’s stock after buying an additional 647 shares during the period. PYA Waltman Capital LLC’s holdings in Starbucks were worth $972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RFG Advisory LLC grew its holdings in Starbucks by 15.0% in the 2nd quarter. RFG Advisory LLC now owns 11,908 shares of the coffee company’s stock valued at $927,000 after buying an additional 1,555 shares during the last quarter. LVW Advisors LLC boosted its holdings in Starbucks by 6.7% in the 2nd quarter. LVW Advisors LLC now owns 2,649 shares of the coffee company’s stock valued at $206,000 after purchasing an additional 166 shares during the period. Cooper Financial Group grew its position in Starbucks by 3.7% in the 2nd quarter. Cooper Financial Group now owns 8,200 shares of the coffee company’s stock worth $638,000 after purchasing an additional 290 shares during the last quarter. Silvia Mccoll Wealth Management LLC increased its holdings in shares of Starbucks by 5.0% during the 2nd quarter. Silvia Mccoll Wealth Management LLC now owns 2,916 shares of the coffee company’s stock worth $227,000 after purchasing an additional 140 shares during the period. Finally, Agate Pass Investment Management LLC raised its position in shares of Starbucks by 9.8% during the second quarter. Agate Pass Investment Management LLC now owns 3,657 shares of the coffee company’s stock valued at $285,000 after buying an additional 326 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wedbush lowered their price target on 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 upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday, August 21st. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Finally, Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Stock Performance

NASDAQ:SBUX opened at $100.11 on Monday. The stock’s fifty day moving average price is $98.09 and its two-hundred day moving average price is $88.90. The company has a market cap of $113.50 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 2.94 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the company earned $1.06 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts predict that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.61 dividend. The ex-dividend date was Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.44%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.98% of the company’s stock.

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.