During the third quarter, Atlantic Union Bankshares Corp expanded its position in Starbucks by acquiring an additional 18,633 shares, bringing its total holding to 81,177 shares. At quarter end, this stake was valued at approximately $6.87 million, representing a 29.8% increase in the fund’s exposure to the coffee retailer. Other institutions also adjusted their portfolios: PFS Partners LLC upped its holding by 457.4% to 340 shares worth $29,000; REAP Financial Group LLC increased its stake by 119.4% to 362 shares valued at $33,000; Transce3nd LLC boosted its position by 270.3% to 274 shares; while several other advisors initiated small positions ranging from $25,000 to $28,000 in total value. Collectively, hedge funds and institutional investors now control just over 72% of the company’s outstanding stock.

A total of 28 research houses have weighed in on Starbucks stock recently. Citigroup shifted to a neutral stance, lowering its target from $94.00 to $92.00, while TD Cowen moved its target up from $84.00 to $89.00 but maintained a hold rating. Barclays and Sanford C. Bernstein both reaffirmed positive outlooks, assigning overweight and outperform ratings with targets of $116.00 and unchanged ratings, respectively. BMO Capital Markets also kept an outperform rating, setting its target at $120.00. The consensus view across the analyst community is a moderate buy, with an average target price of $104.67.

In the most recent quarter, Starbucks generated revenue of $9.92 billion, outperforming analyst projections by roughly $300 million and reflecting a 5.5% year-over-year gain. Earnings per share came in at $0.56, falling short of expectations by $0.03 and down from $0.69 in the same period last year. The company reported a net margin of 3.6% and negative return on equity of 28.7%, while setting full-year guidance in the range of $2.15 to $2.40 per share. Analysts currently forecast $2.99 in earnings for the current fiscal year.

Director Jørgen Vig Knudstorp purchased 11,700 shares at an average price of $85.00 on November 10th, a transaction valued at $994,500. Following this buy, his total holding stands at 53,096 shares, representing a 28.3% increase in his position. Concurrently, the company announced a quarterly dividend of $0.62 per share, payable on February 27th to holders of record as of February 13th. This distribution implies an annualized payout of $2.48 per share and a dividend yield of approximately 2.7%, with a payout ratio exceeding 200% based on consensus EPS forecasts.