Turtle Creek Wealth Advisors LLC Has $545,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Turtle Creek Wealth Advisors LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,588 shares of the coffee company’s stock after acquiring an additional 350 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Starbucks were worth $545,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. Riverview Trust Co lifted its holdings in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after buying an additional 105 shares in the last quarter. Essex Savings Bank lifted its stake in Starbucks by 1.6% in the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after purchasing an additional 112 shares in the last quarter. DT Investment Partners LLC grew its position in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. Childress Capital Advisors LLC raised its position in shares of Starbucks by 4.8% in the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after buying an additional 126 shares in the last quarter. Finally, Keystone Wealth Services LLC grew its position in Starbucks by 1.3% during the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after buying an additional 130 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SBUX shares. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

Starbucks Price Performance

NASDAQ SBUX traded down $0.20 during trading hours on Friday, hitting $98.42. The company’s stock had a trading volume of 8,119,864 shares, compared to its average volume of 11,147,972. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company’s 50 day simple moving average is $96.75 and its two-hundred day simple moving average is $86.19. The company has a market cap of $111.53 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the firm earned $1.06 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is 73.72%.

About Starbucks

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.