Live Oak Investment Partners Invests $942,000 in Starbucks Corporation $SBUX

Live Oak Investment Partners purchased a new position in Starbucks Corporation (NASDAQ:SBUX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,322 shares of the coffee company’s stock, valued at approximately $942,000.

A number of other large investors have also made changes to their positions in the stock. Woodson Capital Management LP grew its position in Starbucks by 140.0% during the third quarter. Woodson Capital Management LP now owns 180,000 shares of the coffee company’s stock worth $15,228,000 after buying an additional 105,000 shares in the last quarter. Running Point Capital Advisors LLC acquired a new stake in shares of Starbucks during the 3rd quarter worth approximately $201,000. Wilmington Savings Fund Society FSB increased its position in shares of Starbucks by 15.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 30,209 shares of the coffee company’s stock valued at $2,556,000 after purchasing an additional 4,009 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Starbucks by 1.3% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 186,995 shares of the coffee company’s stock valued at $15,820,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Magnus Financial Group LLC lifted its position in Starbucks by 14.0% in the third quarter. Magnus Financial Group LLC now owns 8,764 shares of the coffee company’s stock worth $741,000 after purchasing an additional 1,077 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of analyst reports. UBS Group set a $94.00 price objective on shares of Starbucks and gave the stock a “neutral” rating in a report on Tuesday, October 21st. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. Citigroup raised Starbucks from a “neutral” rating to a “positive” rating in a report on Thursday. Piper Sandler lowered their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, Barclays restated an “overweight” rating and set a $110.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $102.56.

Starbucks Stock Performance

Starbucks stock opened at $93.28 on Friday. The business’s fifty day moving average is $85.91 and its two-hundred day moving average is $87.12. The firm has a market cap of $106.07 billion, a P/E ratio of 56.88, a P/E/G ratio of 1.92 and a beta of 0.97. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

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 analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. 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 prior year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, February 13th. Starbucks’s dividend payout ratio is presently 151.22%.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the acquisition, the director directly owned 53,096 shares in the company, valued at approximately $4,513,160. This trade represents a 28.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.