Concurrent Investment Advisors LLC Acquires 10,525 Shares of Starbucks Corporation $SBUX

Concurrent Investment Advisors LLC raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 10.9% in the third quarter, Holdings Channel reports. The institutional investor owned 106,678 shares of the coffee company’s stock after acquiring an additional 10,525 shares during the period. Concurrent Investment Advisors LLC’s holdings in Starbucks were worth $9,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bogart Wealth LLC raised its holdings in Starbucks by 17.9% in the 3rd quarter. Bogart Wealth LLC now owns 2,783 shares of the coffee company’s stock worth $235,000 after purchasing an additional 422 shares during the period. PKO Investment Management Joint Stock Co increased its position in Starbucks by 33.3% in the third quarter. PKO Investment Management Joint Stock Co now owns 40,000 shares of the coffee company’s stock worth $3,384,000 after buying an additional 10,000 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Starbucks by 3.2% in the third quarter. Nordea Investment Management AB now owns 433,112 shares of the coffee company’s stock worth $36,576,000 after buying an additional 13,262 shares during the period. Janney Capital Management LLC raised its stake in shares of Starbucks by 42.2% in the third quarter. Janney Capital Management LLC now owns 165,461 shares of the coffee company’s stock worth $13,998,000 after buying an additional 49,075 shares during the period. Finally, Lynch Asset Management Inc. lifted its position in shares of Starbucks by 1.3% during the 3rd quarter. Lynch Asset Management Inc. now owns 19,100 shares of the coffee company’s stock valued at $1,616,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction that occurred on 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 completion of the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $89.96 on Tuesday. The company has a market cap of $102.29 billion, a P/E ratio of 54.85, a P/E/G ratio of 1.87 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 firm’s fifty day moving average is $85.31 and its two-hundred day moving average is $87.06.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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 firm had revenue of $9.57 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. As a group, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.8%. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Piper Sandler decreased their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. UBS Group set a $94.00 target price on shares of Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. TD Cowen reiterated a “hold” rating and issued a $84.00 price target on shares of Starbucks in a research note on Monday, December 1st. Finally, Royal Bank Of Canada set a $100.00 price objective on Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $102.12.

Starbucks Company Profile

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.