Impax Asset Management Group plc Has $7.43 Million Position in Starbucks Corporation $SBUX

Impax Asset Management Group plc lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 69.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,090 shares of the coffee company’s stock after selling 181,670 shares during the period. Impax Asset Management Group plc’s holdings in Starbucks were worth $7,430,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SBUX. Alliance Wealth Advisors LLC boosted its position in Starbucks by 2.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after acquiring an additional 108 shares during the period. Brown Lisle Cummings Inc. lifted its position in shares of Starbucks by 1.4% in the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares in the last quarter. Diligent Investors LLC boosted its holdings in shares of Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares during the period. Ted Buchan & Co grew its position in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. increased its stake in Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after buying an additional 122 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX opened at $86.44 on Friday. The company has a market cap of $98.26 billion, a PE ratio of 52.71, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The stock has a 50-day moving average of $83.77 and a 200-day moving average of $87.55. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is currently 151.22%.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the acquisition, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. The trade was a 28.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of a number of research reports. BTIG Research reissued a “buy” rating and set a $105.00 target price on shares of Starbucks in a research note on Thursday, October 30th. Loop Capital set a $165.00 price objective on Starbucks in a research report on Tuesday, August 12th. TD Cowen reaffirmed a “hold” rating and issued a $84.00 target price on shares of Starbucks in a research report on Thursday, October 30th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

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.