Natixis Advisors LLC Has $90.61 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Natixis Advisors LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,163,961 shares of the coffee company’s stock after purchasing an additional 35,412 shares during the period. Natixis Advisors LLC’s holdings in Starbucks were worth $90,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. First National Trust Co grew its position in shares of Starbucks by 2.2% during the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after acquiring an additional 106 shares during the period. Graybill Wealth Management LTD. increased its holdings in shares of Starbucks by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after buying an additional 109 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Starbucks by 7.9% during the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after purchasing an additional 122 shares during the last quarter. SouthState Corp grew its holdings in shares of Starbucks by 3.5% during the 4th quarter. SouthState Corp now owns 3,738 shares of the coffee company’s stock valued at $359,000 after purchasing an additional 126 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. grew its holdings in Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Barclays boosted their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Wedbush reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group began coverage on shares of Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.21.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold 9,790 shares of company stock valued at $865,514 over the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Starbucks stock traded down $0.29 during trading on Friday, reaching $94.57. The company had a trading volume of 7,117,159 shares, compared to its average volume of 21,091,858. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock’s 50 day moving average price is $81.06 and its two-hundred day moving average price is $83.91. The firm has a market capitalization of $107.17 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 2.26 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the company posted $1.00 earnings per share. Starbucks’s revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.57 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.41%. Starbucks’s dividend payout ratio is presently 62.81%.

Starbucks 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.