Whitnell & Co. grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,104 shares of the coffee company’s stock after acquiring an additional 1,504 shares during the period. Whitnell & Co.’s holdings in Starbucks were worth $982,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Abbrea Capital LLC lifted its position in Starbucks by 1.9% in the 2nd quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock valued at $463,000 after purchasing an additional 105 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Starbucks by 0.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 38,395 shares of the coffee company’s stock valued at $3,219,000 after buying an additional 115 shares during the period. Duncker Streett & Co. Inc. increased its stake in Starbucks by 0.4% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock valued at $2,528,000 after buying an additional 120 shares during the period. LS Investment Advisors LLC increased its stake in Starbucks by 0.4% during the 3rd quarter. LS Investment Advisors LLC now owns 28,438 shares of the coffee company’s stock valued at $2,514,000 after buying an additional 121 shares during the period. Finally, D.B. Root & Company LLC increased its stake in Starbucks by 0.8% during the 2nd quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock valued at $1,251,000 after buying an additional 122 shares during the period. 70.68% of the stock is owned by institutional investors.
NASDAQ SBUX traded down $0.18 during trading on Friday, hitting $81.77. 7,054,700 shares of the company traded hands, compared to its average volume of 8,267,584. The business has a fifty day simple moving average of $85.72 and a 200 day simple moving average of $86.55. The company has a market capitalization of $98.02 billion, a P/E ratio of 28.89, a PEG ratio of 2.03 and a beta of 0.53. Starbucks Co. has a 12 month low of $60.42 and a 12 month high of $99.72.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, November 13th will be issued a $0.41 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.36. This represents a $1.64 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Tuesday, November 12th. Starbucks’s payout ratio is presently 50.88%.
In other news, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $84.79, for a total value of $845,610.67. Following the transaction, the director now directly owns 28,407 shares of the company’s stock, valued at approximately $2,408,629.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Javier G. Teruel sold 59,838 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.92, for a total value of $5,799,498.96. The disclosure for this sale can be found here. Insiders sold a total of 112,885 shares of company stock worth $10,707,543 over the last three months. 3.98% of the stock is owned by company insiders.
SBUX has been the topic of several recent research reports. Barclays lifted their price objective on shares of Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. BidaskClub cut shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Saturday, October 26th. Goldman Sachs Group initiated coverage on shares of Starbucks in a research note on Monday, July 29th. They issued a “buy” rating and a $110.00 price objective on the stock. Cleveland Research reaffirmed a “hold” rating on shares of Starbucks in a research note on Tuesday, September 10th. Finally, ValuEngine cut shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $89.64.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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