Quadcap Wealth Management LLC Acquires 2,429 Shares of Starbucks Corporation $SBUX

Quadcap Wealth Management LLC boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 56.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,754 shares of the coffee company’s stock after acquiring an additional 2,429 shares during the period. Quadcap Wealth Management LLC’s holdings in Starbucks were worth $619,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Insigneo Advisory Services LLC increased its position in shares of Starbucks by 5.9% during the second quarter. Insigneo Advisory Services LLC now owns 12,927 shares of the coffee company’s stock valued at $1,185,000 after buying an additional 717 shares during the period. Jefferies Financial Group Inc. lifted its holdings in Starbucks by 1,840.5% in the second quarter. Jefferies Financial Group Inc. now owns 65,045 shares of the coffee company’s stock worth $5,960,000 after buying an additional 61,693 shares during the period. Global Retirement Partners LLC bought a new stake in Starbucks during the 2nd quarter valued at approximately $5,986,000. Coldstream Capital Management Inc. grew its holdings in shares of Starbucks by 4.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 205,695 shares of the coffee company’s stock worth $18,848,000 after acquiring an additional 9,245 shares during the period. Finally, Sierra Summit Advisors LLC raised its position in shares of Starbucks by 2.1% in the 2nd quarter. Sierra Summit Advisors LLC now owns 10,769 shares of the coffee company’s stock worth $987,000 after acquiring an additional 221 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. Morgan Stanley set a $105.00 price objective on Starbucks and gave the company an “overweight” rating in a research report on Monday, October 20th. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Piper Sandler reduced their target price 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. Finally, Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $101.44.

Insider Activity

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

Starbucks Trading Down 2.4%

Starbucks stock opened at $83.34 on Tuesday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a market capitalization of $94.77 billion, a price-to-earnings ratio of 50.82, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The business’s fifty day simple moving average is $83.85 and its two-hundred day simple moving average is $87.67.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 company had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. Starbucks’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 earnings per share. On average, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.0%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is presently 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.