Jorgen Vig Knudstorp Acquires 11,700 Shares of Starbucks (NASDAQ:SBUX) Stock

Starbucks Corporation (NASDAQ:SBUX) Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Starbucks Price Performance

NASDAQ SBUX opened at $84.78 on Friday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $96.37 billion, a P/E ratio of 51.70, a P/E/G ratio of 4.28 and a beta of 1.02. The business’s 50-day simple moving average is $83.76 and its 200-day simple moving average is $87.56.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.41 billion. During the same period last year, the company posted $0.80 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 151.22%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SBUX shares. Royal Bank Of Canada set a $100.00 price target on Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. Citigroup lowered their target price on Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Morgan Stanley set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a report on Monday, October 20th. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently made changes to their positions in the business. SummitTX Capital L.P. boosted its stake in shares of Starbucks by 337.3% during the 3rd quarter. SummitTX Capital L.P. now owns 14,867 shares of the coffee company’s stock valued at $1,258,000 after buying an additional 11,467 shares during the last quarter. Zacks Investment Management raised its holdings in Starbucks by 7.7% in the third quarter. Zacks Investment Management now owns 124,813 shares of the coffee company’s stock valued at $10,559,000 after acquiring an additional 8,877 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Starbucks by 1.6% during the 3rd quarter. Raymond James Financial Inc. now owns 3,855,512 shares of the coffee company’s stock valued at $326,177,000 after acquiring an additional 59,289 shares during the last quarter. Kelleher Financial Advisors acquired a new position in Starbucks during the 3rd quarter worth $27,000. Finally, Georgetown University grew its holdings in Starbucks by 0.7% during the 3rd quarter. Georgetown University now owns 84,614 shares of the coffee company’s stock worth $7,158,000 after acquiring an additional 581 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Company Profile

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.