Legacy Capital Wealth Partners LLC Boosts Holdings in Starbucks Corporation $SBUX

Legacy Capital Wealth Partners LLC increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 34.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,124 shares of the coffee company’s stock after acquiring an additional 1,066 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Starbucks were worth $378,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at about $25,000. Chelsea Counsel Co. acquired a new position in Starbucks during the second quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC lifted its stake in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares during the last quarter. MTM Investment Management LLC acquired a new stake in shares of Starbucks in the second quarter valued at approximately $28,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.4%

NASDAQ SBUX opened at $87.04 on Friday. The stock has a market capitalization of $98.97 billion, a P/E ratio of 53.07, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a 50-day moving average price of $84.06 and a 200 day moving average price of $87.71.

Starbucks (NASDAQ:SBUX) last announced 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). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the prior year, the firm posted $0.80 EPS. Starbucks’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, November 14th. Starbucks’s dividend payout ratio is currently 151.22%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBUX. Piper Sandler reduced their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Mizuho raised shares of Starbucks to a “hold” rating in a report on Tuesday, October 28th. Citigroup decreased their target price on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. TD Cowen reissued a “hold” rating and set a $84.00 price target on shares of Starbucks in a report on Thursday, October 30th. Finally, Barclays reduced their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of Starbucks stock in a transaction on Monday, November 10th. The stock was bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the acquisition, the director owned 53,096 shares in the company, valued at $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% 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.