Stonebrook Private Inc. Has $834,000 Stock Holdings in Starbucks Corporation $SBUX

Stonebrook Private Inc. increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 12.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,100 shares of the coffee company’s stock after buying an additional 1,037 shares during the period. Stonebrook Private Inc.’s holdings in Starbucks were worth $834,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.7% in the second quarter. Vanguard Group Inc. now owns 112,861,623 shares of the coffee company’s stock worth $10,341,511,000 after acquiring an additional 802,053 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Starbucks by 0.4% during the second quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock worth $2,357,815,000 after acquiring an additional 99,983 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the period. Nuveen LLC bought a new position in Starbucks in the first quarter valued at about $1,379,619,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after acquiring an additional 3,589,537 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on SBUX shares. TD Cowen reissued a “hold” rating and set a $84.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research note on Thursday, October 16th. UBS Group set a $94.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. raised their target price on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Baird R W raised shares of 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 issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Stock Down 0.4%

Shares of NASDAQ:SBUX opened at $83.33 on Wednesday. The firm has a market cap of $94.72 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company’s fifty day simple moving average is $83.74 and its 200 day simple moving average is $87.63.

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). The firm had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. 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 disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is presently 151.22%.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the transaction, the director 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

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.