Starbucks Corporation $SBUX Shares Acquired by KBC Group NV

KBC Group NV increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 319,324 shares of the coffee company’s stock after purchasing an additional 5,024 shares during the period. KBC Group NV’s holdings in Starbucks were worth $29,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SBUX. National Pension Service grew its stake in shares of Starbucks by 4.5% in the second quarter. National Pension Service now owns 2,530,352 shares of the coffee company’s stock valued at $231,856,000 after buying an additional 109,839 shares in the last quarter. Advyzon Investment Management LLC lifted its position in Starbucks by 16.0% during the 2nd quarter. Advyzon Investment Management LLC now owns 6,023 shares of the coffee company’s stock worth $552,000 after acquiring an additional 831 shares in the last quarter. Palouse Capital Management Inc. boosted its holdings in Starbucks by 0.7% in the 2nd quarter. Palouse Capital Management Inc. now owns 23,397 shares of the coffee company’s stock worth $2,144,000 after acquiring an additional 168 shares during the period. STF Management LP grew its position in Starbucks by 5.6% in the second quarter. STF Management LP now owns 11,556 shares of the coffee company’s stock valued at $1,059,000 after acquiring an additional 612 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of Starbucks during the second quarter valued at approximately $2,561,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a research report on Thursday, July 17th. BTIG Research reissued a “buy” rating and issued a $105.00 price target on shares of Starbucks in a report on Thursday, October 30th. Loop Capital set a $165.00 price objective on Starbucks in a research note on Tuesday, August 12th. TD Cowen reaffirmed a “hold” rating and issued a $84.00 target price on shares of Starbucks in a research report on Thursday, October 30th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.44.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the stock in a transaction dated Monday, November 10th. The shares were bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the purchase, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

Starbucks Trading Down 0.9%

NASDAQ SBUX opened at $86.44 on Friday. The company has a 50-day moving average price of $83.77 and a two-hundred day moving average price of $87.55. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a market cap of $98.26 billion, a price-to-earnings ratio of 52.71, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02.

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

Starbucks Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 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.