Sigma Planning Corp Has $1.98 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Sigma Planning Corp increased its stake in Starbucks Co. (NASDAQ:SBUX) by 5.9% during the third quarter, Holdings Channel.com reports. The fund owned 20,323 shares of the coffee company’s stock after buying an additional 1,131 shares during the period. Sigma Planning Corp’s holdings in Starbucks were worth $1,981,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks in the second quarter worth approximately $25,000. New Millennium Group LLC acquired a new position in Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC lifted its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new position in Starbucks in the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX opened at $100.31 on Tuesday. The stock’s 50-day simple moving average is $96.07 and its 200 day simple moving average is $85.77. The stock has a market capitalization of $113.67 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 business had revenue of $9.07 billion for 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 firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 EPS. On average, research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.43%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SBUX. Barclays lowered their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. BMO Capital Markets upped their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.32.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’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 value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, 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.

About Starbucks

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.