Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Purchases 24,082 Shares of Starbucks Corporation $SBUX

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Starbucks Corporation (NASDAQ:SBUX) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 877,339 shares of the coffee company’s stock after buying an additional 24,082 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.08% of Starbucks worth $74,960,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBUX. Brighton Jones LLC grew its stake in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Starbucks by 27.1% in the 1st quarter. Jones Financial Companies Lllp now owns 412,028 shares of the coffee company’s stock valued at $40,302,000 after purchasing an additional 87,874 shares during the period. Modern Wealth Management LLC grew its position in shares of Starbucks by 27.2% during the 1st quarter. Modern Wealth Management LLC now owns 9,860 shares of the coffee company’s stock worth $967,000 after purchasing an additional 2,110 shares in the last quarter. Centurion Wealth Management LLC grew its position in shares of Starbucks by 5.7% during the 2nd quarter. Centurion Wealth Management LLC now owns 2,926 shares of the coffee company’s stock worth $268,000 after purchasing an additional 159 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Starbucks by 9.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 36,395 shares of the coffee company’s stock worth $3,335,000 after purchasing an additional 3,153 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $88.88 on Monday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a market capitalization of $101.07 billion, a P/E ratio of 54.20, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. The stock has a fifty day moving average of $85.13 and a 200-day moving average of $87.07.

Starbucks (NASDAQ:SBUX) last released 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 business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.80 earnings per share. On average, research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, February 13th. Starbucks’s dividend payout ratio is presently 151.22%.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the acquisition, the director directly owned 53,096 shares in the company, valued at approximately $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBUX. Piper Sandler cut their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. UBS Group set a $94.00 price objective on Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. BTIG Research reiterated a “buy” rating and set a $105.00 target price on shares of Starbucks in a research report on Thursday, October 30th. Barclays restated an “overweight” rating and issued a $110.00 price target (up previously from $95.00) on shares of Starbucks in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $102.12.

About Starbucks

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.