Starbucks Co. (NASDAQ:SBUX) Stock Holdings Cut by MSA Advisors LLC

25 Nov 2024, 16:06 by Kim Johansen · The Markets Daily

MSA Advisors LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 0.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 354,807 shares of the coffee company’s stock after selling 3,022 shares during the period. Starbucks comprises 8.9% of MSA Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. MSA Advisors LLC’s holdings in Starbucks were worth $34,590,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC raised its position in Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Starbucks by 2.6% during the second 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 in the last quarter. Van ECK Associates Corp increased its holdings in Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares during the last quarter. Swiss National Bank boosted its position in shares of Starbucks by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after acquiring an additional 9,900 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Starbucks by 1,466.3% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SBUX. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Stifel Nicolaus lifted their target price on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.81.

View Our Latest Report on SBUX

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Up 2.4 %

SBUX stock opened at $102.50 on Monday. The business has a fifty day moving average of $97.11 and a 200-day moving average of $87.19. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.60. The company has a market cap of $116.21 billion, a P/E ratio of 30.97, a PEG ratio of 3.00 and a beta of 0.97.

Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.38%. Starbucks’s dividend payout ratio is currently 73.72%.

Starbucks Company Profile

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