SevenBridge Financial Group LLC Has $365,000 Stake in Starbucks Co. (NASDAQ:SBUX)

SevenBridge Financial Group LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 15.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,639 shares of the coffee company’s stock after purchasing an additional 488 shares during the period. SevenBridge Financial Group LLC’s holdings in Starbucks were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Dakota Wealth Management boosted its position in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after acquiring an additional 300 shares during the period. Weil Company Inc. boosted its holdings in Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares during the period. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares during the period. Aljian Capital Management LLC grew its position in shares of Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Starbucks by 0.3% during the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after purchasing an additional 9,900 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBUX has been the topic of a number of recent research reports. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Wedbush dropped their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada started coverage on shares of Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective on the stock. Barclays decreased their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.81.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was 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 in the company, valued at $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

Shares of SBUX opened at $102.50 on Monday. The firm has a market cap of $116.21 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.60. The business’s 50 day moving average price is $97.11 and its two-hundred day moving average price is $87.19.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. Research analysts predict that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 73.72%.

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.