Starbucks Co. (NASDAQ:SBUX) Stake Lifted by Swiss National Bank

Swiss National Bank boosted its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,362,100 shares of the coffee company's stock after purchasing an additional 9,900 shares during the quarter. Swiss National Bank owned about 0.30% of Starbucks worth $327,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the second quarter valued at approximately $25,000. New Millennium Group LLC purchased a new position in shares of Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC boosted its holdings 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 acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Starbucks during the second quarter valued at about $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Starbucks during the second quarter worth about $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Down 0.2 %

SBUX stock traded down $0.20 during trading on Friday, hitting $98.42. 8,119,864 shares of the company's stock traded hands, compared to its average volume of 8,457,006. The stock has a market capitalization of $111.53 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a fifty day moving average price of $96.75 and a two-hundred day moving average price of $86.26.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. This is an increase from Starbucks's previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. Starbucks's dividend payout ratio (DPR) is 68.88%.

Analyst Ratings Changes

A number of analysts have recently issued reports on SBUX shares. BMO Capital Markets boosted their target price on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, September 9th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 13th. Bank of America decreased their price target on shares of Starbucks from $118.00 to $117.00 and set a "buy" rating for the company in a research report on Tuesday, October 22nd. DZ Bank lowered Starbucks from a "hold" rating to a "sell" rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada assumed coverage on Starbucks in a research note on Friday. They set an "outperform" rating and a $115.00 price objective on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $102.81.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business's stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 1.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.98% of the company's stock.

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.