Private Advisor Group LLC Increases Holdings in Starbucks Co. (SBUX)

Private Advisor Group LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 48.2% in the third quarter, HoldingsChannel.com reports. The fund owned 68,232 shares of the coffee company’s stock after buying an additional 22,200 shares during the quarter. Private Advisor Group LLC’s holdings in Starbucks were worth $3,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Archford Capital Strategies LLC lifted its holdings in shares of Starbucks by 669.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock valued at $107,000 after buying an additional 1,902 shares during the last quarter. Polaris Greystone Financial Group LLC acquired a new stake in shares of Starbucks during the 3rd quarter valued at about $107,000. Fort L.P. acquired a new stake in shares of Starbucks during the 2nd quarter valued at about $112,000. Point72 Hong Kong Ltd acquired a new stake in shares of Starbucks during the 2nd quarter valued at about $115,000. Finally, RPg Family Wealth Advisory LLC lifted its holdings in shares of Starbucks by 155.6% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock valued at $134,000 after buying an additional 1,673 shares during the last quarter. Hedge funds and other institutional investors own 71.77% of the company’s stock.

Shares of SBUX stock opened at $68.16 on Thursday. The company has a current ratio of 2.20, a quick ratio of 1.95 and a debt-to-equity ratio of 7.73. Starbucks Co. has a twelve month low of $47.37 and a twelve month high of $68.21. The company has a market capitalization of $89.05 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.78 and a beta of 0.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.28 billion. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. On average, research analysts forecast that Starbucks Co. will post 2.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 14th. Starbucks’s dividend payout ratio is currently 59.50%.

Several brokerages have recently issued reports on SBUX. UBS Group lowered Starbucks from a “hold” rating to a “sell” rating in a report on Monday. DZ Bank lowered Starbucks to a “sell” rating in a report on Monday. Mizuho upgraded Starbucks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $75.00 in a report on Monday. Barclays lifted their price target on Starbucks from $56.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, November 2nd. Finally, BMO Capital Markets raised their price objective on Starbucks from $51.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $63.48.

In other Starbucks news, Director Javier G. Teruel sold 166,666 shares of Starbucks stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $52.70, for a total value of $8,783,298.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Myron E. Ullman III sold 15,000 shares of Starbucks stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $53.98, for a total value of $809,700.00. Following the completion of the transaction, the director now directly owns 29,000 shares in the company, valued at $1,565,420. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,832 shares of company stock worth $15,052,087. Company insiders own 3.40% of the company’s stock.

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Starbucks Profile

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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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