Starbucks Corporation $SBUX Shares Purchased by Absher Wealth Management LLC

Absher Wealth Management LLC grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 313,405 shares of the coffee company’s stock after purchasing an additional 13,223 shares during the quarter. Starbucks makes up about 3.2% of Absher Wealth Management LLC’s holdings, making the stock its 18th biggest position. Absher Wealth Management LLC’s holdings in Starbucks were worth $26,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. McIlrath & Eck LLC raised its stake in Starbucks by 9.2% during the 3rd quarter. McIlrath & Eck LLC now owns 7,267 shares of the coffee company’s stock worth $615,000 after acquiring an additional 614 shares in the last quarter. Tribridge Partners Financial LLC purchased a new position in shares of Starbucks during the third quarter worth about $602,000. CoreCap Advisors LLC increased its position in shares of Starbucks by 6.3% during the third quarter. CoreCap Advisors LLC now owns 5,424 shares of the coffee company’s stock worth $459,000 after purchasing an additional 321 shares in the last quarter. Code Waechter LLC acquired a new stake in shares of Starbucks during the third quarter worth about $229,000. Finally, North Star Investment Management Corp. lifted its holdings in shares of Starbucks by 1.2% in the 3rd quarter. North Star Investment Management Corp. now owns 44,447 shares of the coffee company’s stock valued at $3,760,000 after purchasing an additional 535 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 29th. Zacks Research downgraded shares of Starbucks from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. TD Cowen reissued a “hold” rating and set a $84.00 price objective on shares of Starbucks in a research report on Monday, December 1st. Finally, UBS Group set a $94.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.44.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the purchase, the director directly owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Starbucks Price Performance

NASDAQ:SBUX opened at $89.46 on Wednesday. The firm has a market cap of $101.72 billion, a price-to-earnings ratio of 54.55, a price-to-earnings-growth ratio of 1.81 and a beta of 0.97. The firm’s fifty day moving average price is $84.82 and its 200 day moving average price is $87.15. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. As a group, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s dividend payout ratio is 151.22%.

Starbucks Profile

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.