Stockman Wealth Management Inc. Acquires 6,281 Shares of Starbucks Corporation $SBUX

Stockman Wealth Management Inc. boosted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,280 shares of the coffee company’s stock after purchasing an additional 6,281 shares during the period. Stockman Wealth Management Inc.’s holdings in Starbucks were worth $10,768,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

SBUX has been the subject of several research reports. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Barclays cut their price objective on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Piper Sandler reduced their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. BTIG Research restated a “buy” rating and issued a $105.00 price target on shares of Starbucks in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada set a $100.00 target price on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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 that occurred on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director directly 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.6%

Starbucks stock opened at $85.08 on Friday. The company has a market capitalization of $96.74 billion, a PE ratio of 51.88, a P/E/G ratio of 1.76 and a beta of 0.98. The stock has a 50-day moving average price of $84.83 and a two-hundred day moving average price of $87.59. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued 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 business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 EPS. As a group, analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.62 dividend. 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 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.