Abacus Planning Group Inc. acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,839 shares of the coffee company’s stock, valued at approximately $221,000.
A number of other institutional investors also recently made changes to their positions in SBUX. Norges Bank bought a new stake in shares of Starbucks in the fourth quarter valued at approximately $1,240,652,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks in the first quarter valued at approximately $415,167,000. Flossbach Von Storch AG boosted its stake in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the period. Capital World Investors bought a new stake in shares of Starbucks in the first quarter valued at approximately $257,721,000. Finally, Van ECK Associates Corp boosted its stake in shares of Starbucks by 2,624.3% in the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after buying an additional 2,071,378 shares during the period. Institutional investors own 72.29% of the company’s stock.
Starbucks Stock Performance
Shares of NASDAQ:SBUX opened at $94.57 on Friday. The company has a market capitalization of $107.17 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a fifty day moving average of $81.06 and a 200-day moving average of $83.98.
Starbucks Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.57 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.41%. Starbucks’s payout ratio is 62.81%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on SBUX shares. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. BMO Capital Markets cut their target price on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, Barclays upped their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $99.21.
Get Our Latest Stock Report on SBUX
Insider Activity at Starbucks
In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders sold 9,790 shares of company stock worth $865,514 over the last three months. Company insiders own 1.98% of the company’s stock.
Starbucks 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.
Featured Stories
- Five stocks we like better than Starbucks
- How Investors Can Find the Best Cheap Dividend Stocks
- Don’t Overlook Campbell Soup: Here’s What Could Drive Its Stock
- Energy and Oil Stocks Explained
- Birkenstock’s Sudden Slide—Why It Might Be Your Next Big Win
- Top Stocks Investing in 5G Technology
- Why Dell Can Continue Winning in AI and Beyond
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX – Free Report).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.