Vest Financial LLC Acquires 5,235 Shares of Starbucks Corporation $SBUX

Vest Financial LLC increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 23.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,220 shares of the coffee company’s stock after purchasing an additional 5,235 shares during the quarter. Vest Financial LLC’s holdings in Starbucks were worth $2,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Starbucks by 0.7% during the second quarter. Vanguard Group Inc. now owns 112,861,623 shares of the coffee company’s stock valued at $10,341,511,000 after buying an additional 802,053 shares during the last quarter. State Street Corp lifted its stake in shares of Starbucks by 1.2% in the 2nd quarter. State Street Corp now owns 47,513,332 shares of the coffee company’s stock valued at $4,353,647,000 after purchasing an additional 544,534 shares during the last quarter. Geode Capital Management LLC boosted its stake in Starbucks by 0.4% during the second quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock worth $2,357,815,000 after buying an additional 99,983 shares during the period. Norges Bank bought a new position in Starbucks during the 2nd quarter valued at about $1,246,316,000. Finally, Invesco Ltd. grew its stake in shares of Starbucks by 11.2% during the second quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock valued at $1,169,011,000 after buying an additional 1,286,451 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks 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 cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the transaction, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Dbs Bank lowered Starbucks from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. BTIG Research reaffirmed a “buy” rating and set a $105.00 price target on shares of Starbucks in a research report on Thursday. Mizuho set a $86.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a research report on Friday, January 9th. Finally, Susquehanna set a $114.00 target price on Starbucks in a research note on Wednesday. Seventeen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.15.

Starbucks Price Performance

SBUX opened at $95.83 on Friday. The firm has a fifty day moving average price of $86.74 and a 200 day moving average price of $87.14. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a market cap of $108.97 billion, a P/E ratio of 58.43, a P/E/G ratio of 2.03 and a beta of 0.97.

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

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.6%. 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.