Atria Investments Inc Buys 13,479 Shares of Starbucks Co. (NASDAQ:SBUX)

Atria Investments Inc grew its stake in Starbucks Co. (NASDAQ:SBUX) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,916 shares of the coffee company’s stock after purchasing an additional 13,479 shares during the quarter. Atria Investments Inc’s holdings in Starbucks were worth $15,395,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares during the period. Legal & General Group Plc increased its position in Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after acquiring an additional 221,718 shares during the period. Ontario Teachers Pension Plan Board bought a new position in Starbucks during the first quarter worth about $415,167,000. Van ECK Associates Corp increased its position in Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after acquiring an additional 2,324,847 shares during the period. Finally, Sustainable Growth Advisers LP increased its position in Starbucks by 14.6% during the first quarter. Sustainable Growth Advisers LP now owns 4,275,461 shares of the coffee company’s stock worth $390,734,000 after acquiring an additional 544,644 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Up 1.5 %

NASDAQ SBUX opened at $97.55 on Friday. The company has a market cap of $110.54 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 2.78 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a 50 day moving average price of $96.07 and a 200-day moving average price of $85.81.

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

Starbucks Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.50%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 68.88%.

Analysts Set New Price Targets

Several equities analysts have commented on SBUX shares. UBS Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $103.32.

Starbucks Company 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.