Legacy Capital Wealth Partners LLC Grows Stake in Starbucks Corporation $SBUX

Legacy Capital Wealth Partners LLC increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 34.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,124 shares of the coffee company’s stock after acquiring an additional 1,066 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Starbucks were worth $378,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SBUX. Brighton Jones LLC raised its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after acquiring an additional 81,952 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Starbucks by 1,178.2% during the 1st quarter. Federated Hermes Inc. now owns 68,065 shares of the coffee company’s stock worth $6,676,000 after purchasing an additional 62,740 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Starbucks during the 1st quarter worth approximately $170,000. Arkadios Wealth Advisors raised its position in shares of Starbucks by 19.7% during the 1st quarter. Arkadios Wealth Advisors now owns 11,381 shares of the coffee company’s stock worth $1,116,000 after purchasing an additional 1,875 shares during the last quarter. Finally, Nicolet Advisory Services LLC lifted its stake in Starbucks by 54.0% in the 1st quarter. Nicolet Advisory Services LLC now owns 4,453 shares of the coffee company’s stock valued at $437,000 after buying an additional 1,562 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.4%

Shares of NASDAQ:SBUX opened at $87.04 on Friday. The firm has a market cap of $98.97 billion, a price-to-earnings ratio of 53.07, a PEG ratio of 4.28 and a beta of 1.02. The stock’s 50-day moving average price is $84.06 and its two-hundred day moving average price is $87.71. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $9.57 billion for 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 company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. As a group, research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, November 14th. Starbucks’s payout ratio is 151.22%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Sanford C. Bernstein set a $100.00 price target on Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. BTIG Research reiterated a “buy” rating and set a $105.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. Wall Street Zen raised shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. UBS Group set a $94.00 price target on shares of Starbucks and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Insider Buying and Selling at Starbucks

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

About Starbucks

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.