Starbucks Corporation $SBUX Shares Acquired by Summitry LLC

Summitry LLC lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 625,661 shares of the coffee company’s stock after purchasing an additional 23,972 shares during the quarter. Starbucks accounts for approximately 2.6% of Summitry LLC’s holdings, making the stock its 15th largest position. Summitry LLC owned approximately 0.06% of Starbucks worth $57,329,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Game Plan Financial Advisors LLC bought a new stake in Starbucks during the second quarter worth approximately $25,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks during the 2nd quarter valued at $26,000. CBIZ Investment Advisory Services LLC increased its position in shares of 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 purchasing an additional 159 shares during the period. McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks in the 1st quarter worth $29,000. Finally, MTM Investment Management LLC acquired a new stake in shares of Starbucks in the second quarter valued at $28,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the transaction, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This trade represents a 28.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by company insiders.

Starbucks Trading Down 1.9%

NASDAQ SBUX opened at $84.78 on Friday. The company has a market cap of $96.37 billion, a P/E ratio of 51.70, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a fifty day simple moving average of $83.76 and a 200 day simple moving average of $87.58.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 151.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Guggenheim boosted their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Barclays reduced their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Sanford C. Bernstein set a $100.00 price target on shares of Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.