Lbp Am Sa Increases Its Holdings in Starbucks Co. by 7.7%

Lbp Am Sa has augmented its stake in Starbucks Co. (NASDAQ:SBUX) by 7.7% during the second quarter, as revealed in the most recent disclosure with the Securities and Exchange Commission (SEC). The fund now holds 57,239 shares following the acquisition of an additional 4,110 shares. This latest purchase has increased the fund's investment to a value of approximately $5.67 million, based on the SEC's most recent filing.

Institutional Investors Activity

Alongside Lbp Am Sa, other hedge funds and institutional investors have also been active in adjusting their positions in SBUX. New positions were initiated by Freedom Wealth Alliance LLC, Moser Wealth Advisors LLC, and WFA of San Diego LLC, each valued at roughly $26,000, $30,000, and $30,000, respectively. Additionally, Solstein Capital LLC increased its stake by 67.4%, now owning 318 shares valued at $32,000 after the most recent purchase. Strategic Investment Solutions Inc. IL also began a new position in the first quarter, worth about $37,000. Overall, institutional investors own 70.13% of Starbucks’s stock.

Analyst Perspectives

Starbucks has received diverse analyst attention, with recent reports suggesting various adjustments in stock ratings and price targets. In particular, Jefferies Financial Group reduced their price target from $107.00 to $100.00, while Deutsche Bank Aktiengesellschaft started covering the stock, assigning a “buy” rating and a $118.00 price target. Citigroup revised its target down to $100.00 with a “neutral” rating, and StockNews.com updated their rating from “hold” to “buy”. William Blair maintained an “outperform” rating, and overall, Starbucks currently enjoys a “Moderate Buy” rating with an average target price of $114.52 according to MarketBeat.com.

Share Price and Financial Performance

Starbucks’s share price began a recent trading day at $97.05, with a market capitalization of $110.32 billion. The company showcased a fifty-day simple moving average of $97.28 and a 200-day simple moving average of $98.36. Its earnings reports surpassed analysts' expectations with quarterly earnings of $1.06 per share, outperforming the consensus estimate by $0.09. The earnings are reflective of a revenue rise of 11.4% year over year, generating $9.37 billion compared to the expected $9.29 billion. Analysts forecast that Starbucks will achieve earnings of $4.15 per share for the current fiscal year.

Dividend Announcement

A quarterly dividend has been declared by Starbucks, scheduled for payment on February 23rd, with a dividend of $0.57 per share for stockholders of record as of February 9th. The ex-dividend date is February 8th, representing an annualized dividend of $2.28 and a yield of 2.35%. The company’s payout ratio stands at 63.69%.

Insider Sales

Recent insider activity includes the sale of 250 shares by EVP Sara Kelly, at an average price of $104.45. Post-transaction, Kelly holds 47,532 shares valued at roughly $4.96 million. Further, Michael Aaron Conway, another insider, sold 6,500 shares with the total transaction amounting to $681,005. Over the last quarter, insiders sold 7,254 shares, totaling $760,370, and they currently own 1.98% of the company's stock.

About Starbucks Corporation

Starbucks Corporation operates globally as a roaster, marketer, and retailer of specialty coffee. With its subsidiaries, it runs business through three segments: North America, International, and Channel Development. The company offers not only coffee and tea beverages but also whole beans, ground coffees, single-serve products, and ready-to-drink beverages, with an array of food items such as pastries, breakfast sandwiches, and lunch offerings.

Investment, Starbucks, Securities