Starbucks Corporation $SBUX Shares Bought by Woodson Capital Management LP

Woodson Capital Management LP raised its position in Starbucks Corporation (NASDAQ:SBUX) by 140.0% during the third quarter, HoldingsChannel reports. The firm owned 180,000 shares of the coffee company’s stock after buying an additional 105,000 shares during the quarter. Starbucks accounts for 2.8% of Woodson Capital Management LP’s holdings, making the stock its 19th biggest position. Woodson Capital Management LP’s holdings in Starbucks were worth $15,228,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. PUREfi Wealth LLC purchased a new position in Starbucks during the second quarter worth about $286,000. Narwhal Capital Management increased 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 last quarter. Nordea Investment Management AB raised 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 purchasing an additional 13,262 shares during the period. Morningstar Investment Management LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at $653,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of 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 purchasing an additional 16,428 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $93.28 on Friday. The stock’s 50-day moving average is $85.91 and its two-hundred day moving average is $87.12. The stock has a market cap of $106.07 billion, a PE ratio of 56.88, a price-to-earnings-growth ratio of 1.92 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 issued its quarterly earnings data 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 business had revenue of $9.57 billion for 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%. Starbucks’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, February 13th. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research analyst reports. Piper Sandler dropped their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Starbucks in a report on Monday, December 29th. Barclays reaffirmed an “overweight” rating and issued a $110.00 price target (up from $95.00) on shares of Starbucks in a report on Wednesday, January 7th. Dbs Bank lowered Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Finally, Sanford C. Bernstein set a $100.00 target price on shares of Starbucks and gave the company an “outperform” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $102.56.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the purchase, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. This trade represents a 28.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.

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.