Hibernia Wealth Partners LLC Invests $215,000 in Starbucks Corporation $SBUX

Hibernia Wealth Partners LLC purchased a new stake in Starbucks Corporation (NASDAQ:SBUX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,340 shares of the coffee company’s stock, valued at approximately $215,000.

A number of other hedge funds also recently bought and sold shares of SBUX. PUREfi Wealth LLC acquired a new position in shares of Starbucks during the second quarter valued at approximately $286,000. Narwhal Capital Management raised its stake in Starbucks by 39.6% in the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after purchasing an additional 9,282 shares during the last quarter. Napa Wealth Management purchased a new position in Starbucks in the 1st quarter valued at $1,435,000. Morningstar Investment Management LLC acquired a new stake in Starbucks during the 2nd quarter worth $653,000. Finally, Pegasus Asset Management Inc. acquired a new stake in Starbucks during the 2nd quarter worth $1,289,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the acquisition, the director 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 filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho raised shares of Starbucks to a “hold” rating in a research note on Tuesday, October 28th. UBS Group set a $94.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. Dbs Bank cut Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Citigroup cut their price target on Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Finally, TD Cowen restated a “hold” rating and issued a $84.00 target price on shares of Starbucks in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $101.44.

Starbucks Trading Down 0.9%

NASDAQ SBUX opened at $86.44 on Friday. The stock has a market cap of $98.26 billion, a PE ratio of 52.71, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a fifty day simple moving average of $83.77 and a 200-day simple moving average of $87.55.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. Research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

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.