River Road Asset Management LLC Purchases 547,523 Shares of Starbucks Corporation $SBUX

by · The Markets Daily

River Road Asset Management LLC lifted its position in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 724.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 623,064 shares of the coffee company’s stock after purchasing an additional 547,523 shares during the quarter. River Road Asset Management LLC owned about 0.05% of Starbucks worth $55,552,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks in the 2nd quarter valued at about $25,000. Chelsea Counsel Co. bought a new position in shares of Starbucks in the second quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC raised its stake in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Starbucks during the first quarter valued at approximately $29,000. Finally, MTM Investment Management LLC purchased a new position in Starbucks in the 2nd quarter worth approximately $28,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $87.04 on Monday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm has a market cap of $98.97 billion, a PE ratio of 53.07, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The business has a 50 day moving average price of $84.06 and a 200-day moving average price of $87.72.

Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. Research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 151.22%.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research reports. Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Piper Sandler cut their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. TD Cowen reissued a “hold” rating and set a $84.00 price target on shares of Starbucks in a research note on Thursday, October 30th. Barclays lowered their price objective on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Finally, UBS Group set a $94.00 target price on shares of Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. One equities research 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

Read Our Latest Stock Report on SBUX

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the transaction, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Starbucks Company Profile

(Free Report)

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.

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