Nwam LLC Grows Stock Position in Starbucks Corporation $SBUX

Nwam LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 45.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 59,940 shares of the coffee company’s stock after acquiring an additional 18,840 shares during the period. Nwam LLC’s holdings in Starbucks were worth $5,107,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in Starbucks in the 2nd quarter worth approximately $1,246,316,000. Corient Private Wealth LLC grew its holdings in shares of Starbucks by 146.6% during the second quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock valued at $553,201,000 after buying an additional 3,596,014 shares during the last quarter. Invesco Ltd. raised its stake in Starbucks by 11.2% in the 2nd quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock worth $1,169,011,000 after acquiring an additional 1,286,451 shares during the last quarter. California Public Employees Retirement System lifted its position in Starbucks by 68.0% during the 2nd quarter. California Public Employees Retirement System now owns 3,027,814 shares of the coffee company’s stock worth $277,439,000 after acquiring an additional 1,225,447 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Starbucks by 22.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,578,977 shares of the coffee company’s stock valued at $511,202,000 after purchasing an additional 1,026,056 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $93.28 on Friday. The company has a market capitalization of $106.07 billion, a PE ratio of 56.88, a price-to-earnings-growth ratio of 1.92 and a beta of 0.97. The company’s fifty day moving average price is $85.91 and its 200 day moving average price is $87.12. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

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 the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The firm had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.7%. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SBUX shares. Sanford C. Bernstein set a $100.00 price objective on Starbucks and gave the stock an “outperform” rating in a research note on Thursday, October 30th. TD Cowen reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Starbucks in a report on Monday, December 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Starbucks in a report on Monday, December 29th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.56.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the transaction, the director directly owned 53,096 shares in the company, valued at $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by 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.