Starbucks Corporation $SBUX Stock: Russell Investments Group Ltd. Boosts Position

Russell Investments Group Ltd. boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 906,298 shares of the coffee company’s stock after buying an additional 15,014 shares during the period. Russell Investments Group Ltd.’s holdings in Starbucks were worth $85,324,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SBUX. Sunbelt Securities Inc. boosted its holdings in Starbucks by 1.0% in the first quarter. Sunbelt Securities Inc. now owns 9,473 shares of the coffee company’s stock worth $849,000 after acquiring an additional 97 shares in the last quarter. Cypress Capital Management LLC WY increased its holdings in shares of Starbucks by 30.9% during the second quarter. Cypress Capital Management LLC WY now owns 424 shares of the coffee company’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. Webster Bank N. A. increased its holdings in shares of Starbucks by 7.8% during the second quarter. Webster Bank N. A. now owns 1,396 shares of the coffee company’s stock valued at $143,000 after acquiring an additional 101 shares in the last quarter. Nilsine Partners LLC increased its holdings in shares of Starbucks by 1.0% during the second quarter. Nilsine Partners LLC now owns 10,039 shares of the coffee company’s stock valued at $1,026,000 after acquiring an additional 101 shares in the last quarter. Finally, Beta Wealth Group Inc. raised its position in shares of Starbucks by 1.7% in the 2nd quarter. Beta Wealth Group Inc. now owns 6,216 shares of the coffee company’s stock worth $635,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In other news, CEO Brady Brewer sold 2,229 shares of Starbucks stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $110.00, for a total value of $245,190.00. Following the completion of the sale, the chief executive officer directly owned 68,691 shares in the company, valued at $7,556,010. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,687 shares of company stock worth $694,874. Company insiders own 0.03% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $0.82 during midday trading on Friday, reaching $106.44. 5,059,598 shares of the company’s stock traded hands, compared to its average volume of 8,187,591. The company has a market cap of $121.34 billion, a price-to-earnings ratio of 48.16, a P/E/G ratio of 1.77 and a beta of 1.01. Starbucks Corporation has a one year low of $81.97 and a one year high of $111.50. The stock has a 50 day moving average of $99.35 and a 200 day moving average of $100.35.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. Starbucks had a negative return on equity of 38.61% and a net margin of 6.66%. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company earned $0.52 EPS. Starbucks’s revenue for the quarter was down 4.5% on a year-over-year basis. Sell-side analysts predict that Starbucks Corporation will post 3.22 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, November 13th. This is a boost from Starbucks’s previous quarterly dividend of $0.62. Starbucks’s payout ratio is 112.22%.

Starbucks News Summary

Investors following SBUX have been watching these news items:

• Positive Sentiment: Starbucks’ Q4 earnings beat and stronger comparable sales, alongside cost savings, are cited as evidence of turnaround progress. CEO Brian Niccol is also pursuing afternoon traffic with protein and collagen drinks and plans to improve the drive-through experience, which could create new sales opportunities. Should You Buy, Sell or Hold Starbucks Stock Post Q4 Earnings? Starbucks’ plan to get the afternoon crowd? Protein and collagen.
• Positive Sentiment: Unusual options activity has been interpreted as bullish institutional sentiment, though options flows alone do not guarantee a lasting move in the shares. Starbucks’ unusual options activity points to bullish institutional sentiment
• Neutral Sentiment: Starbucks was highlighted among companies making dividend payments, a potential draw for income-focused investors but not described as a new dividend increase. Starbucks Leads $718 Million Dividend as Four Others Pay Out Too

Analyst Ratings Changes

Several equities analysts have recently issued reports on SBUX shares. Piper Sandler lifted their price target on Starbucks from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings downgraded shares of Starbucks from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, November 3rd. Melius Research set a $110.00 price objective on shares of Starbucks in a research note on Monday, August 3rd. Needham & Company LLC set a $120.00 target price on shares of Starbucks in a report on Tuesday, August 18th. Finally, Sanford C. Bernstein downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Monday, August 3rd. Twenty-one equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.83.

Starbucks Profile

Starbucks Corporation is a global coffee company that roasts, markets and sells coffee and other beverages, along with food and related merchandise. Its offerings include brewed coffee, espresso-based drinks, teas and packaged coffee products. The company serves customers through company-operated and licensed stores, as well as through retail and food-service partnerships. Its stores also sell items such as mugs and coffee-making equipment. Founded in Seattle in 1971, Starbucks operates in North America and international markets, including China.