HB Wealth Management LLC Purchases 7,625 Shares of Starbucks Corporation $SBUX

HB Wealth Management LLC raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 21.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,945 shares of the coffee company’s stock after purchasing an additional 7,625 shares during the quarter. HB Wealth Management LLC’s holdings in Starbucks were worth $3,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SBUX. Game Plan Financial Advisors LLC purchased a new stake in Starbucks during the 2nd quarter worth about $25,000. Transce3nd LLC lifted its position in Starbucks by 270.3% during the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Chelsea Counsel Co. purchased a new stake in Starbucks during the second quarter valued at about $26,000. CBIZ Investment Advisory Services LLC lifted its stake in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the last quarter. Finally, MTM Investment Management LLC bought a new stake in Starbucks during the second quarter worth about $28,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SBUX. Piper Sandler decreased their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 29th. Mizuho set a $86.00 price objective on shares of Starbucks and gave the stock a “neutral” rating in a report on Friday. Royal Bank Of Canada set a $100.00 target price on shares of Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Dbs Bank downgraded shares of Starbucks from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Hold” and a consensus price target of $102.12.

Insider Buying and Selling at Starbucks

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

Starbucks Stock Up 0.8%

NASDAQ:SBUX opened at $88.88 on Friday. The firm has a market capitalization of $101.07 billion, a P/E ratio of 54.20, a P/E/G ratio of 1.86 and a beta of 0.97. The company has a fifty day moving average of $85.13 and a 200 day moving average of $87.13. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

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

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $0.62 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.48 annualized dividend and a yield of 2.8%. Starbucks’s dividend payout ratio (DPR) is 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.