Autumn Glory Partners LLC Purchases 9,067 Shares of Starbucks Corporation $SBUX

Autumn Glory Partners LLC increased its position in Starbucks Corporation (NASDAQ:SBUX) by 79.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,466 shares of the coffee company’s stock after acquiring an additional 9,067 shares during the quarter. Autumn Glory Partners LLC’s holdings in Starbucks were worth $1,731,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. PUREfi Wealth LLC bought a new stake in Starbucks in the 2nd quarter worth $286,000. Narwhal Capital Management boosted its holdings in shares of Starbucks by 39.6% during the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after purchasing an additional 9,282 shares during the period. Morningstar Investment Management LLC purchased a new stake in shares of Starbucks during the second quarter worth about $653,000. Pegasus Asset Management Inc. bought a new stake in shares of Starbucks in the second quarter worth about $1,289,000. Finally, Conning Inc. increased its holdings in Starbucks by 22.3% during the 2nd quarter. Conning Inc. now owns 386,106 shares of the coffee company’s stock valued at $35,379,000 after purchasing an additional 70,468 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SBUX. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. Zacks Research lowered Starbucks from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. UBS Group set a $94.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. BTIG Research restated a “buy” rating and issued a $105.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Finally, Piper Sandler cut their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.44.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the stock in a transaction 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 completion of the acquisition, the director 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Stock Up 3.1%

Shares of SBUX opened at $86.56 on Tuesday. The company has a market capitalization of $98.43 billion, a price-to-earnings ratio of 52.78, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a 50 day moving average price of $84.74 and a 200 day moving average price of $87.18.

Starbucks (NASDAQ:SBUX) last announced 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). The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

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

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.