Starbucks (NASDAQ:SBUX) Director Jorgen Vig Knudstorp Purchases 11,700 Shares

Starbucks Corporation (NASDAQ:SBUX) Director Jorgen Vig Knudstorp bought 11,700 shares of Starbucks stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the acquisition, the director owned 53,096 shares in the company, valued at $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Starbucks Trading Down 0.9%

Shares of NASDAQ SBUX opened at $86.44 on Friday. The company has a market capitalization of $98.26 billion, a price-to-earnings ratio of 52.71, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The business has a 50 day simple moving average of $83.77 and a 200-day simple moving average of $87.55.

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). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

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

Institutional Investors Weigh In On Starbucks

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Starbucks by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 113,438,902 shares of the coffee company’s stock worth $9,596,931,000 after acquiring an additional 577,279 shares during the period. Capital Research Global Investors lifted its position in Starbucks by 11.4% in the third quarter. Capital Research Global Investors now owns 85,460,350 shares of the coffee company’s stock worth $7,229,968,000 after purchasing an additional 8,774,198 shares during the period. Capital World Investors boosted its stake in Starbucks by 1.9% during the 3rd quarter. Capital World Investors now owns 77,720,137 shares of the coffee company’s stock valued at $6,575,430,000 after purchasing an additional 1,462,874 shares in the last quarter. State Street Corp increased its position in shares of Starbucks by 1.2% during the 2nd quarter. State Street Corp now owns 47,513,332 shares of the coffee company’s stock valued at $4,353,647,000 after purchasing an additional 544,534 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Starbucks by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock valued at $2,357,815,000 after purchasing an additional 99,983 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Dbs Bank downgraded Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Loop Capital set a $165.00 price objective on Starbucks in a research report on Tuesday, August 12th. Piper Sandler dropped their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. One equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

Starbucks Company 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.