Infrastructure Capital Advisors LLC Acquires New Holdings in Starbucks Co. (NASDAQ:SBUX)

Infrastructure Capital Advisors LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,500 shares of the coffee company’s stock, valued at approximately $146,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Marshall Wace LLP grew its position in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Starbucks during the second quarter worth about $243,910,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Starbucks Stock Performance

SBUX stock opened at $101.51 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The firm has a market cap of $115.09 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97. The stock has a 50-day simple moving average of $97.50 and a 200-day simple moving average of $87.74.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Analysts Set New Price Targets

Several research firms recently weighed in on SBUX. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. UBS Group boosted their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

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.