Banco Santander S.A. Acquires 19,408 Shares of Starbucks Co. (NASDAQ:SBUX)

Banco Santander S.A. grew its holdings in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 18.9% in the first quarter, Holdings Channel.com reports. The firm owned 122,255 shares of the coffee company’s stock after buying an additional 19,408 shares during the period. Banco Santander S.A.’s holdings in Starbucks were worth $11,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Tobam bought a new position in shares of Starbucks in the first quarter valued at approximately $198,000. Essex LLC boosted its position in shares of Starbucks by 15.7% in the first quarter. Essex LLC now owns 46,017 shares of the coffee company’s stock valued at $4,186,000 after acquiring an additional 6,233 shares during the period. Cim LLC boosted its position in shares of Starbucks by 11.6% in the first quarter. Cim LLC now owns 4,036 shares of the coffee company’s stock valued at $326,000 after acquiring an additional 420 shares during the period. Opes Wealth Management LLC boosted its position in shares of Starbucks by 24.0% in the first quarter. Opes Wealth Management LLC now owns 3,111 shares of the coffee company’s stock valued at $283,000 after acquiring an additional 603 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in shares of Starbucks by 65.2% in the fourth quarter. Benjamin Edwards Inc. now owns 1,513 shares of the coffee company’s stock valued at $177,000 after acquiring an additional 597 shares during the period. Institutional investors own 69.21% of the company’s stock.

Insider Activity at Starbucks

In related news, CEO Howard D. Schultz purchased 72,500 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were acquired at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the completion of the acquisition, the chief executive officer now directly owns 19,606,960 shares in the company, valued at approximately $1,349,939,196. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CEO Howard D. Schultz bought 137,500 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average price of $72.67 per share, for a total transaction of $9,992,125.00. Following the acquisition, the chief executive officer now owns 19,534,460 shares in the company, valued at approximately $1,419,569,208.20. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Howard D. Schultz bought 72,500 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the acquisition, the chief executive officer now owns 19,606,960 shares in the company, valued at approximately $1,349,939,196. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of analyst reports. StockNews.com lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. BTIG Research lowered their target price on shares of Starbucks from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, April 20th. Robert W. Baird reaffirmed a “neutral” rating and issued a $83.00 target price on shares of Starbucks in a research note on Thursday. Barclays raised their target price on shares of Starbucks from $94.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Piper Sandler raised their target price on shares of Starbucks from $80.00 to $84.00 and gave the company a “neutral” rating in a research note on Monday, July 18th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $102.92.

Starbucks Stock Down 1.3 %

Shares of NASDAQ SBUX opened at $85.73 on Friday. Starbucks Co. has a 52 week low of $68.39 and a 52 week high of $120.76. The firm’s fifty day moving average is $78.88 and its 200 day moving average is $83.14. The company has a market cap of $98.37 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.70 and a beta of 0.95.

Starbucks (NASDAQ:SBUXGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the previous year, the company earned $1.01 EPS. Equities research analysts anticipate that Starbucks Co. will post 2.89 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is currently 55.21%.

About Starbucks

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

See Also

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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