Arkadios Wealth Advisors Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Arkadios Wealth Advisors lifted its position in Starbucks Co. (NASDAQ:SBUX) by 15.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,555 shares of the coffee company’s stock after acquiring an additional 1,400 shares during the period. Arkadios Wealth Advisors’ holdings in Starbucks were worth $1,029,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Vanguard Group Inc. lifted its position in Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after buying an additional 470,498 shares during the period. Legal & General Group Plc lifted its position in Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after acquiring an additional 221,718 shares during the period. Flossbach Von Storch AG boosted its stake in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Nordea Investment Management AB grew its holdings in Starbucks by 5.2% in the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after purchasing an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks during the first quarter valued at approximately $415,167,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.2 %

Shares of NASDAQ:SBUX opened at $97.31 on Monday. The stock has a market capitalization of $110.22 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The firm’s 50 day moving average price is $95.48 and its 200-day moving average price is $85.03. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the firm earned $1.00 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.51%. Starbucks’s payout ratio is 67.22%.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SBUX. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Stifel Nicolaus reduced their price target on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.48.

Starbucks 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.