Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Tevis Investment Management

Tevis Investment Management increased its stake in Starbucks Co. (NASDAQ:SBUX) by 16.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,362 shares of the coffee company’s stock after purchasing an additional 1,209 shares during the quarter. Tevis Investment Management’s holdings in Starbucks were worth $815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter valued at about $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC increased its stake in shares of Starbucks by 498.2% during 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 in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC purchased a new stake in Starbucks in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

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

Starbucks Trading Down 0.1 %

SBUX opened at $97.32 on Thursday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a market cap of $110.28 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.59 and a beta of 0.97. The company has a fifty day simple moving average of $95.77 and a 200 day simple moving average of $85.28.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts forecast that Starbucks Co. will post 3.34 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. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 68.35%.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. Barclays increased their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. 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 report on Wednesday, August 21st. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Two equities 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. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

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.