Pacer Advisors Inc. Acquires 14,608 Shares of Starbucks Corporation $SBUX

Pacer Advisors Inc. increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 8.3% in the third quarter, HoldingsChannel.com reports. The fund owned 190,714 shares of the coffee company’s stock after acquiring an additional 14,608 shares during the period. Pacer Advisors Inc.’s holdings in Starbucks were worth $16,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Game Plan Financial Advisors LLC bought a new position in Starbucks in the second quarter worth about $25,000. Transce3nd LLC grew its position in shares of Starbucks by 270.3% in the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after buying an additional 200 shares during the period. Chelsea Counsel Co. bought a new position in shares of Starbucks during the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC increased its position in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares in the last quarter. Finally, MTM Investment Management LLC purchased a new position in shares of Starbucks in the 2nd quarter worth about $28,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Starbucks stock opened at $85.08 on Friday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a fifty day moving average of $84.83 and a 200 day moving average of $87.57. The stock has a market cap of $96.74 billion, a PE ratio of 51.88, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.62 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SBUX. TD Cowen reiterated a “hold” rating and issued a $84.00 target price on shares of Starbucks in a research note on Monday, December 1st. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Wells Fargo & Company set a $100.00 target price on Starbucks and gave the company an “overweight” rating in a research note on Thursday, October 16th. BTIG Research reissued a “buy” rating and issued a $105.00 target price on shares of Starbucks in a report on Thursday, October 30th. Finally, Mizuho raised Starbucks to a “hold” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of $85.00 per share, with a total value of $994,500.00. Following the transaction, the director directly owned 53,096 shares in the company, valued at approximately $4,513,160. The trade was a 28.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

Starbucks 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.