Woodson Capital Management LP Acquires 105,000 Shares of Starbucks Corporation $SBUX

Woodson Capital Management LP raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 140.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,000 shares of the coffee company’s stock after acquiring an additional 105,000 shares during the quarter. Starbucks comprises 2.8% of Woodson Capital Management LP’s investment portfolio, making the stock its 19th biggest holding. Woodson Capital Management LP’s holdings in Starbucks were worth $15,228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alliance Wealth Advisors LLC increased its position in shares of Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after acquiring an additional 108 shares during the last quarter. Cooper Haims Advisors LLC boosted its stake in Starbucks by 3.0% in the second quarter. Cooper Haims Advisors LLC now owns 3,749 shares of the coffee company’s stock worth $344,000 after buying an additional 110 shares in the last quarter. Brown Lisle Cummings Inc. lifted its holdings in shares of Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after acquiring an additional 117 shares during the last quarter. Diligent Investors LLC raised its position in Starbucks by 1.9% in the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares during the period. Finally, Silver Oak Securities Incorporated increased its holdings in shares of Starbucks by 2.4% in the third quarter. Silver Oak Securities Incorporated now owns 5,288 shares of the coffee company’s stock worth $447,000 after buying an additional 122 shares during the period. 72.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SBUX. Mizuho set a $86.00 target price on shares of Starbucks and gave the company a “neutral” rating in a report on Friday, January 9th. Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. BMO Capital Markets reissued an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Royal Bank Of Canada set a $100.00 price target on Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, UBS Group set a $94.00 target price on Starbucks and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.56.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’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 acquisition, 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 filing with the SEC, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Starbucks Price Performance

SBUX opened at $93.28 on Friday. The firm has a fifty day moving average price of $85.91 and a 200 day moving average price of $87.12. The stock has a market cap of $106.07 billion, a P/E ratio of 56.88, a P/E/G ratio of 1.92 and a beta of 0.97. Starbucks Corporation has a 1 year low of $75.50 and a 1 year 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). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The business had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.7%. Starbucks’s dividend payout ratio (DPR) is presently 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.