Tribridge Partners Financial LLC Buys Shares of 6,942 Starbucks Corporation $SBUX

Tribridge Partners Financial LLC bought a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,942 shares of the coffee company’s stock, valued at approximately $602,000. Starbucks comprises 0.3% of Tribridge Partners Financial LLC’s holdings, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Game Plan Financial Advisors LLC acquired a new position in Starbucks during the 2nd quarter worth $25,000. Transce3nd LLC lifted its position in shares of Starbucks by 270.3% during the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Chelsea Counsel Co. acquired a new position in Starbucks in the second quarter worth about $26,000. CBIZ Investment Advisory Services LLC increased 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 valued at $28,000 after buying an additional 159 shares during the last quarter. Finally, MTM Investment Management LLC acquired a new stake in Starbucks during the second quarter valued at approximately $28,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research reports. Dbs Bank lowered Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Morgan Stanley set a $105.00 target price on shares of Starbucks and gave the company an “overweight” rating in a research note on Monday, October 20th. UBS Group set a $94.00 target price on shares of Starbucks and gave the stock a “neutral” rating in a report on Tuesday, October 21st. 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, TD Cowen reiterated a “hold” rating and set a $84.00 price objective on shares of Starbucks in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus target price of $101.44.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction on Monday, November 10th. The stock was bought at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the transaction, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. The trade was a 28.26% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is owned by insiders.

Starbucks Stock Performance

Starbucks stock opened at $89.46 on Wednesday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company has a 50-day simple moving average of $84.82 and a 200-day simple moving average of $87.15. The firm has a market capitalization of $101.72 billion, a P/E ratio of 54.55, a P/E/G ratio of 1.81 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, February 13th. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

About Starbucks

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.