SevenBridge Financial Group LLC Increases Stock Holdings in Starbucks Corporation $SBUX

by · The Markets Daily

SevenBridge Financial Group LLC lifted its stake in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 39.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,124 shares of the coffee company’s stock after purchasing an additional 7,331 shares during the period. SevenBridge Financial Group LLC’s holdings in Starbucks were worth $2,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SBUX. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks during the second quarter valued at $25,000. Transce3nd LLC grew its position in Starbucks by 270.3% during the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Chelsea Counsel Co. bought a new stake in Starbucks during the 2nd quarter valued at about $26,000. CBIZ Investment Advisory Services LLC raised its holdings in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the last quarter. Finally, MTM Investment Management LLC bought a new position in shares of Starbucks in the second quarter worth approximately $28,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SBUX. Wall Street Zen upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Mizuho raised Starbucks to a “hold” rating in a research report on Tuesday, October 28th. Barclays lowered their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada set a $100.00 price objective on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $101.44.

Get Our Latest Stock Report on Starbucks

Starbucks Price Performance

Shares of Starbucks stock opened at $85.35 on Monday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company’s fifty day simple moving average is $84.00 and its 200-day simple moving average is $87.69. The stock has a market capitalization of $97.05 billion, a PE ratio of 52.04, a P/E/G ratio of 1.74 and a beta of 0.98.

Starbucks (NASDAQ:SBUX – Get Free Report) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The company 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 business posted $0.80 earnings per share. Starbucks’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders 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 dividend yield of 2.9%. Starbucks’s dividend payout ratio is 151.22%.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the purchase, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.

About Starbucks

(Free Report)

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.

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