Tred Avon Family Wealth LLC Buys New Shares in Starbucks Corporation $SBUX

Tred Avon Family Wealth LLC purchased a new position in Starbucks Corporation (NASDAQ:SBUX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,128 shares of the coffee company’s stock, valued at approximately $518,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Starbucks in the 2nd quarter valued at about $1,246,316,000. Corient Private Wealth LLC raised its stake in Starbucks by 146.6% during the 2nd quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock worth $553,201,000 after buying an additional 3,596,014 shares during the period. Invesco Ltd. raised its stake in Starbucks by 11.2% during the 2nd quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock worth $1,169,011,000 after buying an additional 1,286,451 shares during the period. California Public Employees Retirement System boosted its holdings in Starbucks by 68.0% in the second quarter. California Public Employees Retirement System now owns 3,027,814 shares of the coffee company’s stock worth $277,439,000 after acquiring an additional 1,225,447 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Starbucks by 22.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,578,977 shares of the coffee company’s stock valued at $511,202,000 after acquiring an additional 1,026,056 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada set a $100.00 target price on Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. BTIG Research restated a “buy” rating and set a $105.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Mizuho set a $86.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a research note on Friday, January 9th. Barclays reissued an “overweight” rating and set a $110.00 target price (up from $95.00) on shares of Starbucks in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $102.56.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the acquisition, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. The trade was a 28.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $92.99 on Monday. The company has a fifty day moving average price of $86.06 and a 200-day moving average price of $87.03. The firm has a market cap of $105.74 billion, a price-to-earnings ratio of 56.70, a PEG ratio of 1.96 and a beta of 0.97. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The firm had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter last year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Corporation will post 2.99 EPS 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 issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.7%. Starbucks’s dividend payout ratio is currently 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.