Fisher Asset Management LLC Acquires 193,849 Shares of Starbucks Corporation $SBUX

Fisher Asset Management LLC raised its holdings in Starbucks Corporation (NASDAQ:SBUX) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,779,234 shares of the coffee company’s stock after purchasing an additional 193,849 shares during the period. Fisher Asset Management LLC owned 1.12% of Starbucks worth $1,200,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SBUX. Russell Investments Group Ltd. grew its position in shares of Starbucks by 1.7% in the third quarter. Russell Investments Group Ltd. now owns 906,298 shares of the coffee company’s stock valued at $85,324,000 after purchasing an additional 15,014 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of Starbucks by 2.5% during the 3rd quarter. CENTRAL TRUST Co now owns 49,451 shares of the coffee company’s stock valued at $4,646,000 after purchasing an additional 1,226 shares during the period. Bingham Private Wealth LLC lifted its holdings in Starbucks by 7.1% during the 3rd quarter. Bingham Private Wealth LLC now owns 2,199 shares of the coffee company’s stock worth $207,000 after purchasing an additional 145 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in Starbucks by 14.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 69,873 shares of the coffee company’s stock worth $6,565,000 after purchasing an additional 8,825 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Starbucks by 3.5% during the 3rd quarter. Ritholtz Wealth Management now owns 28,010 shares of the coffee company’s stock worth $2,632,000 after purchasing an additional 947 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks News Summary

Here’s some of the latest news about SBUX:

• Positive Sentiment: Starbucks is giving nearly 200,000 employees Bean Stock grants, while eligible North American baristas and shift supervisors are receiving sales-performance bonuses. The incentives may help engage staff and support the “Back to Starbucks” turnaround, although they also add costs. Starbucks is Putting More Money in Employees’ Pockets
• Negative Sentiment: South Korean sales figures have renewed concern about the company’s performance in that market, with one report linking the figures to pressure on the shares. Starbucks Stock Slips as Korean Sales Figures Come In
• Negative Sentiment: Citi maintained a Hold rating and a $107 price target, citing a balance between turnaround progress and valuation and execution risks. Separately, Starbucks’ 2027 outlook reportedly points to slightly lower revenue as its China business changes models, while the stock had already rallied strongly. Starbucks Hold Maintained as Turnaround Progress Faces Valuation and Execution Risks Has Starbucks Run Too Far Ahead As Fresh 2027 Guidance Resets Valuation?

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent analyst reports. Citigroup lifted their target price on Starbucks from $104.00 to $107.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Deutsche Bank reiterated a “buy” rating and set a $126.00 price target (up from $120.00) on shares of Starbucks in a research report on Thursday, July 30th. Evercore restated an “outperform” rating on shares of Starbucks in a research report on Friday, October 30th. Stephens began coverage on shares of Starbucks in a research report on Tuesday, November 3rd. They issued an “equal weight” rating and a $39.00 price objective for the company. Finally, Gordon Haskett boosted their price objective on shares of Starbucks from $110.00 to $118.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Twenty-one analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Hold” and an average target price of $108.83.

Insider Transactions at Starbucks

In other news, CEO Brady Brewer sold 2,229 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $110.00, for a total value of $245,190.00. Following the completion of the transaction, the chief executive officer directly owned 68,691 shares in the company, valued at approximately $7,556,010. This represents a 3.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,687 shares of company stock worth $694,874 over the last three months. Insiders own 0.03% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $107.26 on Friday. The firm’s fifty day moving average price is $99.34 and its 200-day moving average price is $100.30. The stock has a market cap of $122.28 billion, a P/E ratio of 48.53, a price-to-earnings-growth ratio of 1.82 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $81.97 and a fifty-two week high of $111.50.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.22 billion. Starbucks had a net margin of 6.66% and a negative return on equity of 38.61%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. On average, analysts predict that Starbucks Corporation will post 3.22 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.3%. This is an increase from Starbucks’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, November 13th. Starbucks’s dividend payout ratio is presently 112.22%.

About Starbucks

Starbucks Corporation is a global coffee company that roasts, markets and sells coffee and other beverages, along with food and related merchandise. Its offerings include brewed coffee, espresso-based drinks, teas and packaged coffee products. The company serves customers through company-operated and licensed stores, as well as through retail and food-service partnerships. Its stores also sell items such as mugs and coffee-making equipment. Founded in Seattle in 1971, Starbucks operates in North America and international markets, including China.