Zions Bancorporation N.A. Purchases 16,985 Shares of Starbucks Co. (NASDAQ:SBUX)

Zions Bancorporation N.A. lifted its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 434.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,897 shares of the coffee company's stock after purchasing an additional 16,985 shares during the period. Zions Bancorporation N.A.'s holdings in Starbucks were worth $2,037,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dakota Wealth Management lifted its holdings in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company's stock worth $5,439,000 after acquiring an additional 300 shares in the last quarter. Weil Company Inc. raised its stake in shares of Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company's stock valued at $3,371,000 after purchasing an additional 8,222 shares during the period. Maia Wealth LLC raised its stake in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company's stock valued at $1,805,000 after purchasing an additional 7,596 shares during the period. LRI Investments LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at about $136,000. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Starbucks by 3.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 220,529 shares of the coffee company's stock valued at $21,499,000 after purchasing an additional 8,151 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company's stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company's stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.98% of the company's stock.

Analyst Ratings Changes

SBUX has been the topic of several recent research reports. Evercore ISI raised Starbucks from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a "hold" rating to a "buy" rating and lifted their price target for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on Starbucks from $90.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Finally, Bank of America lowered their target price on Starbucks from $118.00 to $117.00 and set a "buy" rating on the stock in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $102.81.

Starbucks Price Performance

NASDAQ:SBUX traded down $0.20 during trading hours on Friday, reaching $98.42. 8,119,296 shares of the company were exchanged, compared to its average volume of 11,147,972. The business has a 50 day moving average of $96.60 and a 200 day moving average of $86.12. The company has a market capitalization of $111.53 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.89 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced 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. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks's previous quarterly dividend of $0.57. Starbucks's dividend payout ratio (DPR) is currently 73.72%.

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.