Swedbank AB Acquires 2,173 Shares of Starbucks Co. (NASDAQ:SBUX)

Swedbank AB lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552,169 shares of the coffee company’s stock after purchasing an additional 2,173 shares during the period. Swedbank AB’s holdings in Starbucks were worth $53,831,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Okabena Investment Services Inc. acquired a new stake in shares of Starbucks during the 3rd quarter worth approximately $1,879,000. Canopy Partners LLC boosted its stake in Starbucks by 13.8% during the third quarter. Canopy Partners LLC now owns 12,936 shares of the coffee company’s stock worth $1,261,000 after acquiring an additional 1,571 shares in the last quarter. Cerity Partners LLC increased its stake in Starbucks by 11.6% in the third quarter. Cerity Partners LLC now owns 354,150 shares of the coffee company’s stock valued at $34,526,000 after purchasing an additional 36,827 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of Starbucks by 11.0% during the third quarter. Great Valley Advisor Group Inc. now owns 19,002 shares of the coffee company’s stock valued at $1,852,000 after purchasing an additional 1,879 shares during the period. Finally, Nicolet Advisory Services LLC bought a new position in shares of Starbucks during the 3rd quarter worth about $270,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 2.4 %

Shares of SBUX stock opened at $102.50 on Monday. The firm has a market cap of $116.21 billion, a P/E ratio of 30.97, a PEG ratio of 3.00 and a beta of 0.97. The company has a 50 day moving average of $97.11 and a 200-day moving average of $87.19. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.60.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research analyst reports. BTIG Research boosted their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. BMO Capital Markets increased their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Wedbush decreased their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

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.