Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Blossom Wealth Management

Blossom Wealth Management grew its position in Starbucks Co. (NASDAQ:SBUX) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,662 shares of the coffee company’s stock after acquiring an additional 155 shares during the quarter. Starbucks comprises approximately 1.3% of Blossom Wealth Management’s portfolio, making the stock its 21st biggest position. Blossom Wealth Management’s holdings in Starbucks were worth $649,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the second quarter worth $25,000. New Millennium Group LLC acquired a new position in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $96.82 on Wednesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock’s 50-day simple moving average is $95.31 and its 200-day simple moving average is $84.80. The firm has a market cap of $109.67 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts predict that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given 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 annualized dividend and a dividend yield of 2.52%. Starbucks’s dividend payout ratio is currently 62.81%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Citigroup raised their price objective on shares of Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 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 given a strong buy rating to the company. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $102.40.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated 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 transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This 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 company insiders.

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.