Verdence Capital Advisors LLC Has $599,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Verdence Capital Advisors LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,143 shares of the coffee company’s stock after purchasing an additional 365 shares during the period. Verdence Capital Advisors LLC’s holdings in Starbucks were worth $599,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Markel Group Inc. raised its holdings in shares of Starbucks by 5.6% in the third quarter. Markel Group Inc. now owns 600,318 shares of the coffee company’s stock valued at $58,525,000 after buying an additional 32,000 shares during the last quarter. Beta Wealth Group Inc. bought a new stake in Starbucks during the 3rd quarter worth about $536,000. Rovin Capital UT ADV increased its position in Starbucks by 69.8% in the 3rd quarter. Rovin Capital UT ADV now owns 5,003 shares of the coffee company’s stock valued at $488,000 after acquiring an additional 2,057 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Starbucks in the third quarter worth about $485,000. Finally, Fiera Capital Corp lifted its position in shares of Starbucks by 13.8% during the third quarter. Fiera Capital Corp now owns 50,753 shares of the coffee company’s stock worth $4,948,000 after purchasing an additional 6,163 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

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

Starbucks Stock Up 1.5 %

Starbucks stock opened at $97.55 on Monday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a 50 day moving average of $96.07 and a 200-day moving average of $85.79. The stock has a market capitalization of $110.54 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 EPS. Equities analysts anticipate that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.50%. Starbucks’s payout ratio is presently 73.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Stifel Nicolaus lifted their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Wedbush cut their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

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.