Grandfield & Dodd LLC Purchases 3,450 Shares of Starbucks Corporation $SBUX

Grandfield & Dodd LLC boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,012 shares of the coffee company’s stock after purchasing an additional 3,450 shares during the period. Grandfield & Dodd LLC’s holdings in Starbucks were worth $5,774,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Game Plan Financial Advisors LLC purchased a new position in Starbucks during the second quarter worth about $25,000. Chelsea Counsel Co. purchased a new stake in shares of Starbucks during the 2nd quarter valued at $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in Starbucks in the first quarter worth $29,000. Finally, Nova Wealth Management Inc. increased its stake in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.9%

SBUX stock opened at $86.44 on Friday. The stock has a market cap of $98.26 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 4.28 and a beta of 1.02. The business’s 50-day moving average is $83.77 and its 200 day moving average is $87.55. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 company 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 firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 earnings per share. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is currently 151.22%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SBUX. Piper Sandler cut their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Loop Capital set a $165.00 price target on Starbucks in a report on Tuesday, August 12th. Citigroup reduced their price objective on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price on the stock. in a report on Thursday, July 17th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the purchase, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

Starbucks 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.