Starbucks Corporation $SBUX Holdings Raised by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its stake in Starbucks Corporation (NASDAQ:SBUXFree Report) by 79.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,513 shares of the coffee company’s stock after purchasing an additional 13,467 shares during the quarter. SteelPeak Wealth LLC’s holdings in Starbucks were worth $2,581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter worth about $25,000. Transce3nd LLC increased its stake in shares of Starbucks by 270.3% during the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after acquiring an additional 200 shares during the period. Chelsea Counsel Co. acquired a new position in shares of Starbucks during the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC raised its holdings in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new stake in Starbucks in the second quarter worth approximately $28,000. Institutional investors own 72.29% of the company’s stock.

Key Stores Impacting Starbucks

Here are the key news stories impacting Starbucks this week:

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SBUX. Sanford C. Bernstein set a $100.00 price target on Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Starbucks in a report on Monday. Citigroup lowered their price objective on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Finally, Dbs Bank downgraded shares of Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $101.44.

View Our Latest Analysis on SBUX

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were bought at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the acquisition, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Starbucks Price Performance

SBUX stock opened at $83.97 on Friday. The firm has a market capitalization of $95.48 billion, a P/E ratio of 51.20, a P/E/G ratio of 1.76 and a beta of 0.97. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The company’s 50 day simple moving average is $84.75 and its 200-day simple moving average is $87.28.

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

Starbucks Dividend Announcement

The firm also recently disclosed 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 3.0%. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

About Starbucks

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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