Starbucks Corporation $SBUX Shares Purchased by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 205,695 shares of the coffee company’s stock after purchasing an additional 9,245 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Starbucks were worth $18,848,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Game Plan Financial Advisors LLC purchased a new position in shares of Starbucks in the 2nd quarter worth $25,000. Chelsea Counsel Co. acquired a new stake in Starbucks during the second quarter worth about $26,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the period. McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks in the 1st quarter valued at about $29,000. Finally, MTM Investment Management LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth about $28,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Starbucks stock opened at $85.35 on Friday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The company has a market capitalization of $97.05 billion, a price-to-earnings ratio of 52.04, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The firm’s fifty day moving average price is $83.83 and its 200 day moving average price is $87.63.

Starbucks (NASDAQ:SBUX) last posted 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 firm had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts forecast 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 will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBUX. Piper Sandler cut their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. BTIG Research reissued a “buy” rating and issued a $105.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. Citigroup cut their target price on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.44.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of Starbucks stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the purchase, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

About Starbucks

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.