Banque Cantonale Vaudoise Acquires 12,394 Shares of Starbucks Co. (NASDAQ:SBUX)

Banque Cantonale Vaudoise raised its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 79.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 28,000 shares of the coffee company's stock after acquiring an additional 12,394 shares during the period. Banque Cantonale Vaudoise's holdings in Starbucks were worth $2,730,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company's stock worth $678,923,000 after purchasing an additional 221,718 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company's stock worth $348,391,000 after buying an additional 2,324,847 shares during the last quarter. Swiss National Bank lifted its stake in shares of Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company's stock worth $327,771,000 after buying an additional 9,900 shares during the last quarter. Marshall Wace LLP increased its position in Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company's stock worth $260,870,000 after acquiring an additional 3,136,992 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in Starbucks by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,255,967 shares of the coffee company's stock worth $317,424,000 after acquiring an additional 122,886 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm's stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company's stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares of the company's stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBUX. Piper Sandler upgraded shares of 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 research report on Tuesday, August 13th. DZ Bank cut shares of Starbucks from a "hold" rating to a "sell" rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. BMO Capital Markets raised their price target on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a "hold" rating to a "buy" rating and raised their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Evercore ISI raised Starbucks from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.81.

Starbucks Price Performance

Shares of SBUX traded down $0.09 during mid-day trading on Wednesday, reaching $98.26. 7,526,552 shares of the company's stock were exchanged, compared to its average volume of 11,104,876. The business's fifty day simple moving average is $97.01 and its 200-day simple moving average is $86.70. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $104.68. The stock has a market capitalization of $111.35 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $9.60 billion. During the same quarter in the previous year, the business earned $1.06 EPS. The company's revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current 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 given a $0.61 dividend. This is an increase from Starbucks's previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks's payout ratio is currently 73.72%.

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.