Live Oak Investment Partners Acquires Shares of 10,322 Starbucks Corporation $SBUX

Live Oak Investment Partners acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,322 shares of the coffee company’s stock, valued at approximately $942,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PUREfi Wealth LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at $286,000. Narwhal Capital Management lifted its position in Starbucks by 39.6% during the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after purchasing an additional 9,282 shares during the period. Nordea Investment Management AB grew its stake in Starbucks by 3.2% during the third quarter. Nordea Investment Management AB now owns 433,112 shares of the coffee company’s stock worth $36,576,000 after buying an additional 13,262 shares in the last quarter. Morningstar Investment Management LLC bought a new position in Starbucks in the 2nd quarter valued at about $653,000. Finally, Asset Management One Co. Ltd. increased its holdings in Starbucks by 3.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 548,768 shares of the coffee company’s stock valued at $46,426,000 after buying an additional 16,428 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $92.99 on Tuesday. The firm’s fifty day moving average price is $86.23 and its two-hundred day moving average price is $87.02. The stock has a market cap of $105.74 billion, a PE ratio of 56.70, a PEG ratio of 1.96 and a beta of 0.97. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Dbs Bank lowered shares of Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. TD Cowen restated a “hold” rating and set a $84.00 target price on shares of Starbucks in a research note on Monday, December 1st. Barclays reaffirmed an “overweight” rating and issued a $110.00 target price (up previously from $95.00) on shares of Starbucks in a report on Wednesday, January 7th. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Sanford C. Bernstein set a $100.00 price objective on Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.56.

Starbucks Company Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.