HBW Advisory Services LLC grew its position in Starbucks Co. (NASDAQ:SBUX) by 27.3% during the 3rd quarter, Holdings Channel reports. The firm owned 37,602 shares of the coffee company’s stock after purchasing an additional 8,054 shares during the quarter. Starbucks makes up about 1.3% of HBW Advisory Services LLC’s investment portfolio, making the stock its 22nd biggest position. HBW Advisory Services LLC’s holdings in Starbucks were worth $3,230,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Cottage Street Advisors LLC boosted its stake in shares of Starbucks by 0.6% in the 3rd quarter. Cottage Street Advisors LLC now owns 21,120 shares of the coffee company’s stock valued at $1,815,000 after purchasing an additional 121 shares in the last quarter. Tsfg LLC raised its holdings in shares of Starbucks by 2.1% in the third quarter. Tsfg LLC now owns 6,297 shares of the coffee company’s stock valued at $541,000 after buying an additional 130 shares during the last quarter. CFM Wealth Partners LLC raised its holdings in shares of Starbucks by 0.3% in the second quarter. CFM Wealth Partners LLC now owns 42,169 shares of the coffee company’s stock valued at $3,103,000 after buying an additional 132 shares during the last quarter. UMA Financial Services Inc. raised its holdings in shares of Starbucks by 5.0% in the second quarter. UMA Financial Services Inc. now owns 2,831 shares of the coffee company’s stock valued at $219,000 after buying an additional 135 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC raised its holdings in shares of Starbucks by 0.9% in the second quarter. Bingham Osborn & Scarborough LLC now owns 15,377 shares of the coffee company’s stock valued at $1,132,000 after buying an additional 136 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.
In related news, Director Clara Shih sold 37,498 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $79.13, for a total value of $2,967,216.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin R. Johnson sold 107,762 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $90.08, for a total value of $9,707,200.96. The disclosure for this sale can be found here. Insiders sold a total of 153,764 shares of company stock valued at $13,404,656 over the last quarter. 0.41% of the stock is owned by insiders.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The business had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the firm earned $0.78 EPS. Starbucks’s quarterly revenue was down 38.1% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 0.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from Starbucks’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. Starbucks’s payout ratio is currently 57.95%.
SBUX has been the subject of a number of research analyst reports. MKM Partners lifted their price target on Starbucks from $74.00 to $79.00 in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on Starbucks from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 21st. Telsey Advisory Group lifted their price target on Starbucks from $80.00 to $90.00 and gave the company a “market perform” rating in a report on Wednesday, September 30th. Wedbush boosted their price objective on Starbucks from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. They noted that the move was a valuation call. Finally, Cowen raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $77.00 to $99.00 in a report on Wednesday, September 30th. Sixteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $86.73.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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