TCI Wealth Advisors Inc. Acquires 1,238 Shares of Starbucks Co. (SBUX)

TCI Wealth Advisors Inc. boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 15.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,332 shares of the coffee company’s stock after acquiring an additional 1,238 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Starbucks were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Parnassus Investments CA boosted its holdings in Starbucks by 26.8% in the 2nd quarter. Parnassus Investments CA now owns 12,052,546 shares of the coffee company’s stock valued at $588,767,000 after purchasing an additional 2,543,697 shares during the period. Charles Schwab Investment Advisory Inc. bought a new position in Starbucks in the 2nd quarter valued at $105,420,000. Magellan Asset Management Ltd boosted its holdings in Starbucks by 5.2% in the 2nd quarter. Magellan Asset Management Ltd now owns 32,392,116 shares of the coffee company’s stock valued at $1,582,355,000 after purchasing an additional 1,613,187 shares during the period. Fiera Capital Corp boosted its holdings in Starbucks by 3,492.3% in the 2nd quarter. Fiera Capital Corp now owns 1,274,578 shares of the coffee company’s stock valued at $62,262,000 after purchasing an additional 1,239,097 shares during the period. Finally, Morgan Stanley boosted its holdings in Starbucks by 2.0% in the 2nd quarter. Morgan Stanley now owns 47,116,946 shares of the coffee company’s stock valued at $2,301,661,000 after purchasing an additional 928,175 shares during the period. Institutional investors and hedge funds own 71.77% of the company’s stock.

In related news, Director Myron E. Ullman III sold 15,000 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $53.98, for a total transaction of $809,700.00. Following the transaction, the director now owns 29,000 shares in the company, valued at $1,565,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Javier G. Teruel sold 166,666 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $52.70, for a total transaction of $8,783,298.20. The disclosure for this sale can be found here. Insiders have sold 280,832 shares of company stock worth $15,052,087 in the last quarter. 3.40% of the stock is owned by corporate insiders.

SBUX stock opened at $68.60 on Friday. Starbucks Co. has a 12-month low of $47.37 and a 12-month high of $68.98. The stock has a market capitalization of $91.95 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.91 and a beta of 0.48. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.95 and a current ratio of 2.20.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The firm had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous 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. As a group, equities analysts predict that Starbucks Co. will post 2.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, November 14th. Starbucks’s dividend payout ratio is currently 59.50%.

Several research firms have weighed in on SBUX. ValuEngine raised shares of Starbucks from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 14th. BMO Capital Markets set a $51.00 price target on shares of Starbucks and gave the stock a “hold” rating in a research note on Monday, July 23rd. Bank of America boosted their price target on shares of Starbucks from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, October 10th. Telsey Advisory Group lowered their price target on shares of Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday, July 17th. Finally, Royal Bank of Canada boosted their price target on shares of Starbucks to $68.00 and gave the stock a “positive” rating in a research note on Friday, November 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the stock. Starbucks presently has an average rating of “Hold” and a consensus price target of $63.48.

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About Starbucks

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.

Further Reading: The Discount Rate – What You Need to Know

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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