Corient Private Wealth LLC Purchases 587,571 Shares of Starbucks Corporation $SBUX

Corient Private Wealth LLC raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 24.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,040,749 shares of the coffee company’s stock after acquiring an additional 587,571 shares during the quarter. Corient Private Wealth LLC’s holdings in Starbucks were worth $278,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at approximately $25,000. Transce3nd LLC raised its holdings in Starbucks by 270.3% during the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after acquiring an additional 200 shares during the period. Chelsea Counsel Co. purchased a new stake in shares of Starbucks during the second quarter worth $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares during the period. Finally, MTM Investment Management LLC purchased a new position in shares of Starbucks in the second quarter valued at $28,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Starbucks in a report on Monday, December 8th. Mizuho upgraded shares of Starbucks to a “hold” rating in a research report on Tuesday, October 28th. Citigroup decreased their target price on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, Wall Street Zen raised shares of Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Trading Up 0.7%

SBUX stock opened at $85.35 on Monday. The company’s 50 day moving average is $84.00 and its 200 day moving average is $87.69. The stock has a market cap of $97.05 billion, a price-to-earnings ratio of 52.04, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last released 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 company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.Starbucks’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. As a group, sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s dividend payout ratio is currently 151.22%.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction on Monday, November 10th. The stock was purchased 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 in the company, valued at approximately $4,513,160. This trade represents a 28.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by insiders.

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.