Intellectus Partners LLC Purchases 984 Shares of Starbucks Co. (NASDAQ:SBUX)

Intellectus Partners LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 9.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,430 shares of the coffee company’s stock after purchasing an additional 984 shares during the period. Intellectus Partners LLC’s holdings in Starbucks were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dakota Wealth Management boosted its position in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares during the last quarter. Weil Company Inc. lifted its stake 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 valued at $3,371,000 after acquiring an additional 8,222 shares during the period. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares during the last quarter. LRI Investments LLC acquired a new stake in Starbucks in the first quarter worth about $136,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in Starbucks by 3.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 220,529 shares of the coffee company’s stock worth $21,499,000 after purchasing an additional 8,151 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SBUX shares. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Morgan Stanley boosted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.31.

Starbucks Stock Performance

Shares of SBUX opened at $99.23 on Friday. The firm has a market cap of $112.45 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The business’s 50 day moving average price is $96.45 and its two-hundred day moving average price is $86.03.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. Research analysts predict that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is 68.88%.

Insider Activity

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought 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 of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.