LVW Advisors LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,747 shares of the coffee company’s stock after buying an additional 1,584 shares during the quarter. LVW Advisors LLC’s holdings in Starbucks were worth $2,771,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in SBUX. Polaris Greystone Financial Group LLC acquired a new position in Starbucks in the third quarter worth $107,000. Archford Capital Strategies LLC lifted its stake in shares of Starbucks by 669.7% during the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock valued at $107,000 after acquiring an additional 1,902 shares during the period. Fort L.P. acquired a new position in shares of Starbucks during the second quarter valued at $112,000. Point72 Hong Kong Ltd acquired a new position in shares of Starbucks during the second quarter valued at $115,000. Finally, RPg Family Wealth Advisory LLC lifted its stake in shares of Starbucks by 155.6% during the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock valued at $134,000 after acquiring an additional 1,673 shares during the period. 71.77% of the stock is currently owned by institutional investors and hedge funds.
In other Starbucks news, Director Javier G. Teruel sold 166,666 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 15,000 shares of the stock in a transaction dated 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 sale, the director now owns 29,000 shares of the company’s stock, valued at $1,565,420. The disclosure for this sale can be found here. Insiders sold 280,832 shares of company stock valued at $15,052,087 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.
NASDAQ SBUX opened at $68.72 on Friday. The stock has a market capitalization of $89.05 billion, a P/E ratio of 28.40, a P/E/G ratio of 1.78 and a beta of 0.48. The company has a quick ratio of 1.95, a current ratio of 2.20 and a debt-to-equity ratio of 7.73. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $68.98.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The company had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts predict 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 issued a $0.36 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.44 annualized dividend and a dividend yield of 2.10%. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.
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Starbucks Company 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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