Accredited Investors Inc. Takes Position in Starbucks Co. (NASDAQ:SBUX)

Accredited Investors Inc. purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,246 shares of the coffee company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Turtle Creek Wealth Advisors LLC grew its stake in shares of Starbucks by 6.7% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 5,588 shares of the coffee company’s stock worth $545,000 after purchasing an additional 350 shares during the period. Evergreen Wealth Management LLC acquired a new stake in Starbucks during the third quarter valued at $1,786,000. Natixis Advisors LLC increased its holdings in Starbucks by 16.0% in the third quarter. Natixis Advisors LLC now owns 1,349,923 shares of the coffee company’s stock valued at $131,605,000 after buying an additional 185,962 shares in the last quarter. Archer Investment Corp raised its position in shares of Starbucks by 10.2% in the third quarter. Archer Investment Corp now owns 2,301 shares of the coffee company’s stock worth $224,000 after acquiring an additional 213 shares during the period. Finally, Valley Wealth Managers Inc. boosted its stake in shares of Starbucks by 2.4% during the 3rd quarter. Valley Wealth Managers Inc. now owns 51,667 shares of the coffee company’s stock worth $5,037,000 after acquiring an additional 1,192 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.98% of the stock is owned by corporate insiders.

Starbucks Price Performance

NASDAQ SBUX opened at $98.42 on Monday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market capitalization of $111.53 billion, a P/E ratio of 29.73, a PEG ratio of 2.85 and a beta of 0.97. The firm’s 50-day moving average is $96.75 and its two-hundred day moving average is $86.26.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $1.06 EPS. As a group, analysts anticipate that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 68.88%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. BTIG Research boosted their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. UBS Group lifted their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.