Turtle Creek Wealth Advisors LLC Increases Stock Position in Starbucks Corporation $SBUX

Turtle Creek Wealth Advisors LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 28.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,973 shares of the coffee company’s stock after buying an additional 7,296 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Starbucks were worth $2,790,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SBUX. Game Plan Financial Advisors LLC acquired a new position in Starbucks during the second quarter worth $25,000. Transce3nd LLC boosted its position in shares of Starbucks by 270.3% during the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Chelsea Counsel Co. acquired a new position in shares of Starbucks during the 2nd quarter worth $26,000. MTM Investment Management LLC purchased a new position in shares of Starbucks in the 2nd quarter valued at about $28,000. Finally, PFS Partners LLC lifted its stake in shares of Starbucks by 457.4% in the third quarter. PFS Partners LLC now owns 340 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 279 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $92.99 on Tuesday. The business’s fifty day moving average price is $86.23 and its two-hundred day moving average price is $87.02. The stock has a market cap of $105.74 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. Starbucks Corporation has a one year low of $75.50 and a one year 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 the consensus estimate of $0.55 by ($0.03). The company 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%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Dbs Bank lowered shares of Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Sanford C. Bernstein set a $100.00 price target on Starbucks and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Piper Sandler dropped their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Zacks Research downgraded Starbucks from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. Finally, Wall Street Zen raised Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $102.56.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 53,096 shares in the company, valued at approximately $4,513,160. This represents a 28.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Starbucks Company 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.