Starbucks Co. (NASDAQ:SBUX) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,926 shares of the coffee company’s stock after buying an additional 1,106 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Starbucks were worth $5,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC grew its position in Starbucks by 26.2% during the third quarter. WealthPlan Investment Management LLC now owns 6,567 shares of the coffee company’s stock valued at $640,000 after acquiring an additional 1,365 shares during the period. First National Trust Co increased its position in shares of Starbucks by 11.7% in the third quarter. First National Trust Co now owns 5,356 shares of the coffee company’s stock worth $522,000 after acquiring an additional 561 shares in the last quarter. Fountainhead AM LLC raised its stake in shares of Starbucks by 14.7% in the 3rd quarter. Fountainhead AM LLC now owns 2,729 shares of the coffee company’s stock valued at $266,000 after acquiring an additional 349 shares during the period. Versor Investments LP acquired a new position in shares of Starbucks during the 3rd quarter valued at $1,130,000. Finally, Jaffetilchin Investment Partners LLC boosted its position in Starbucks by 10.9% during the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 8,984 shares of the coffee company’s stock worth $876,000 after purchasing an additional 886 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 2.8 %

SBUX stock opened at $100.31 on Tuesday. The firm’s 50-day moving average is $96.19 and its two-hundred day moving average is $85.86. The company has a market capitalization of $113.67 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is presently 73.72%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SBUX shares. Barclays reduced their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired 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 of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

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.