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

FSM Wealth Advisors LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,526 shares of the coffee company’s stock after acquiring an additional 273 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Starbucks were worth $441,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the second quarter valued at approximately $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC increased its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks in the 2nd quarter worth $27,000. Finally, Olistico Wealth LLC bought a new stake in Starbucks in the second quarter worth about $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent research reports. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Bank of America cut their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Stifel Nicolaus upped their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.32.

Starbucks Price Performance

SBUX opened at $97.03 on Tuesday. The firm has a 50 day simple moving average of $96.00 and a 200 day simple moving average of $85.53. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company has a market cap of $109.95 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 3.17 and a beta of 0.97.

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 business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 3.22 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a positive change 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 2.51%. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Insider Buying and Selling at Starbucks

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

Starbucks Company 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.