Radnor Capital Management LLC Buys New Position in Starbucks Co. (NASDAQ:SBUX)

Radnor Capital Management LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,230 shares of the coffee company’s stock, valued at approximately $1,290,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Callahan Advisors LLC boosted its stake in shares of Starbucks by 7.9% during the 3rd quarter. Callahan Advisors LLC now owns 35,947 shares of the coffee company’s stock worth $3,504,000 after acquiring an additional 2,621 shares in the last quarter. Leslie Global Wealth LLC acquired a new position in shares of Starbucks in the 3rd quarter valued at $248,000. HF Advisory Group LLC boosted its position in shares of Starbucks by 90.2% in the 3rd quarter. HF Advisory Group LLC now owns 14,458 shares of the coffee company’s stock valued at $1,409,000 after purchasing an additional 6,856 shares during the period. North Star Investment Management Corp. increased its stake in Starbucks by 0.3% in the 3rd quarter. North Star Investment Management Corp. now owns 44,438 shares of the coffee company’s stock worth $4,332,000 after purchasing an additional 133 shares in the last quarter. Finally, Heritage Investors Management Corp raised its holdings in Starbucks by 52.9% during the 3rd quarter. Heritage Investors Management Corp now owns 5,961 shares of the coffee company’s stock worth $581,000 after buying an additional 2,063 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SBUX shares. Bank of America dropped their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Stifel Nicolaus boosted their target price on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s 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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Trading Down 1.0 %

NASDAQ SBUX opened at $96.08 on Thursday. The company has a market cap of $108.88 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.81 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a fifty day simple moving average of $95.99 and a 200 day simple moving average of $85.67.

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

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is currently 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.