5,823 Starbucks Corporation $SBUX Shares Purchased by MGO One Seven LLC

MGO One Seven LLC grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 17.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,536 shares of the coffee company’s stock after purchasing an additional 5,823 shares during the period. MGO One Seven LLC’s holdings in Starbucks were worth $3,715,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Starbucks during the second quarter valued at approximately $8,504,509,000. Bank of America Corp DE bought a new position in shares of Starbucks in the 2nd quarter worth $1,581,287,000. Bank of New York Mellon Corp bought a new position in shares of Starbucks in the 2nd quarter worth $779,790,000. Legal & General Group Plc bought a new position in shares of Starbucks in the 2nd quarter worth $649,622,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Starbucks during the 2nd quarter valued at $289,019,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of Starbucks stock opened at $104.40 on Tuesday. Starbucks Corporation has a one year low of $77.99 and a one year high of $110.51. The business’s 50 day simple moving average is $99.20 and its two-hundred day simple moving average is $99.77. The stock has a market capitalization of $119.02 billion, a P/E ratio of 47.24, a price-to-earnings-growth ratio of 1.57 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. Sell-side analysts expect that Starbucks Corporation will post 3.21 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 13th. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. This is an increase from Starbucks’s previous quarterly dividend of $0.62. Starbucks’s dividend payout ratio (DPR) is currently 114.03%.

Insider Buying and Selling

In other Starbucks news, CEO Brady Brewer sold 588 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $100.00, for a total transaction of $58,800.00. Following the completion of the sale, the chief executive officer owned 70,920 shares of the company’s stock, valued at $7,092,000. This represents a 0.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,687 shares of company stock worth $685,935. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SBUX shares. JPMorgan Chase & Co. dropped their price objective on shares of Starbucks from $112.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Raymond James Financial reiterated an “outperform” rating on shares of Starbucks in a research report on Friday, October 9th. UBS Group restated a “neutral” rating and set a $105.00 price target (down from $112.00) on shares of Starbucks in a research report on Thursday, October 8th. Guggenheim restated a “neutral” rating and set a $103.00 price target (up from $97.00) on shares of Starbucks in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $126.00 price target (up from $120.00) on shares of Starbucks in a research note on Thursday, July 30th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $110.79.

Starbucks News Roundup

Here are the key news stories impacting Starbucks this week:

• Positive Sentiment: Analyst support remains constructive. BTIG reiterated its Buy rating, while a Seeking Alpha analysis argued that Starbucks’ bear case is losing momentum. Citi also raised its price target to $107 from $104, although it maintained a Neutral rating. BTIG reiterates Starbucks Buy rating Starbucks bear case losing steam
• Positive Sentiment: North American trends are improving. Management highlighted continued growth in customer visits and spending, supported by new menu offerings, digital engagement and the Green Apron Service operating initiative. These trends could help offset weakness in other markets. Starbucks Q3 earnings call questions
• Neutral Sentiment: Analyst opinion is mixed. DA Davidson reaffirmed a Neutral rating, and Citi’s $107 target implies only modest potential appreciation from recent levels. The mixed ratings suggest investors see stabilization but not a clear reacceleration in growth. DA Davidson reaffirms Starbucks Neutral rating Citi raises Starbucks price target
• Negative Sentiment: Revenue missed expectations. Starbucks’ quarterly results drew a negative market reaction after revenue fell year over year and missed estimates, largely because the transition of its China operations to a licensed model reduced reported sales. The quarter’s performance remains an overhang despite stronger North American sales. Starbucks Q3 earnings call questions
• Negative Sentiment: Ending employee GLP-1 coverage could create workforce and reputational risks. Starbucks is among employers reportedly reducing coverage for weight-loss drugs, potentially lowering benefits costs but creating employee-retention concerns and negative publicity. Employers dropping GLP-1 coverage

About Starbucks

Starbucks Corporation is a global specialty coffee company headquartered in Seattle, Washington. Founded in 1971, the company operates and licenses coffeehouses under the Starbucks brand, serving brewed coffee, espresso beverages, teas, cold drinks, food, and other ready-to-consume products.

In addition to its company-operated and licensed stores, Starbucks sells packaged coffee, tea, and single-serve products through grocery retailers, convenience stores, and other distribution channels.