Brown Advisory Inc. Lowers Stock Holdings in Starbucks Corporation $SBUX

Brown Advisory Inc. lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 395,915 shares of the coffee company’s stock after selling 10,262 shares during the period. Brown Advisory Inc.’s holdings in Starbucks were worth $36,278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks in the second quarter worth $25,000. Chelsea Counsel Co. purchased a new position in Starbucks during the second quarter worth about $26,000. CBIZ Investment Advisory Services LLC increased its stake in 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 acquiring an additional 159 shares during the last quarter. MTM Investment Management LLC purchased a new stake in shares of Starbucks in the 2nd quarter valued at about $28,000. Finally, Nova Wealth Management Inc. boosted its position in shares of Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 234 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of Starbucks stock opened at $85.12 on Friday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The company has a fifty day moving average of $84.16 and a 200-day moving average of $87.70. The stock has a market capitalization of $96.79 billion, a price-to-earnings ratio of 51.90, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The business had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter in the previous year, the business earned $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 forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, February 13th. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio is currently 151.22%.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $85.00 per share, with a total value of $994,500.00. Following the purchase, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on SBUX shares. Barclays decreased their price objective on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. TD Cowen restated a “hold” rating and set a $84.00 price objective on shares of Starbucks in a research report on Monday, December 1st. Sanford C. Bernstein set a $100.00 target price on shares of Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Piper Sandler lowered their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

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.