Corient Private Wealth LLC Has $278.62 Million Stock Holdings in Starbucks Corporation $SBUX

Corient Private Wealth LLC increased its stake in Starbucks Corporation (NASDAQ:SBUX) by 24.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,040,749 shares of the coffee company’s stock after acquiring an additional 587,571 shares during the quarter. Corient Private Wealth LLC owned about 0.27% of Starbucks worth $278,624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. PUREfi Wealth LLC acquired a new stake in Starbucks in the 2nd quarter valued at $286,000. Narwhal Capital Management lifted its stake in shares of Starbucks by 39.6% in the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after buying an additional 9,282 shares in the last quarter. Napa Wealth Management bought a new position in shares of Starbucks in the first quarter valued at $1,435,000. Morningstar Investment Management LLC acquired a new position in shares of Starbucks during the second quarter valued at about $653,000. Finally, Pegasus Asset Management Inc. bought a new stake in shares of Starbucks during the second quarter worth about $1,289,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the acquisition, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. This trade represents a 28.26% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SBUX has been the topic of several recent research reports. Mizuho raised shares of Starbucks to a “hold” rating in a research report on Tuesday, October 28th. UBS Group set a $94.00 target price on Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the company an “overweight” rating in a research report on Thursday, October 16th. Barclays dropped their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Finally, BTIG Research reiterated a “buy” rating and issued a $105.00 target price on shares of Starbucks in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $85.35 on Monday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a market capitalization of $97.05 billion, a PE ratio of 52.04, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The business has a fifty day moving average price of $84.00 and a two-hundred day moving average price of $87.69.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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). The company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.Starbucks’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. Sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

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

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.