Kavar Capital Partners LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 60,351 shares of the coffee company’s stock, valued at approximately $3,430,000. Starbucks comprises about 1.7% of Kavar Capital Partners LLC’s portfolio, making the stock its 14th biggest holding.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Radnor Capital Management LLC grew its position in Starbucks by 8.7% during the third quarter. Radnor Capital Management LLC now owns 11,264 shares of the coffee company’s stock valued at $640,000 after acquiring an additional 900 shares during the period. Mercer Capital Advisers Inc. grew its position in Starbucks by 5.4% during the third quarter. Mercer Capital Advisers Inc. now owns 18,550 shares of the coffee company’s stock valued at $1,054,000 after acquiring an additional 950 shares during the period. DDD Partners LLC grew its position in Starbucks by 13.3% during the second quarter. DDD Partners LLC now owns 8,317 shares of the coffee company’s stock valued at $406,000 after acquiring an additional 975 shares during the period. Rathbone Brothers plc grew its position in Starbucks by 10.0% during the third quarter. Rathbone Brothers plc now owns 10,953 shares of the coffee company’s stock valued at $623,000 after acquiring an additional 999 shares during the period. Finally, Chicago Partners Investment Group LLC grew its position in Starbucks by 52.5% during the second quarter. Chicago Partners Investment Group LLC now owns 2,941 shares of the coffee company’s stock valued at $144,000 after acquiring an additional 1,013 shares during the period. 71.14% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on SBUX shares. Wells Fargo & Co boosted their price target on Starbucks from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. KeyCorp reissued a “buy” rating on shares of Starbucks in a research report on Thursday, October 4th. BidaskClub raised Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Finally, ValuEngine raised Starbucks from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Starbucks has an average rating of “Buy” and an average target price of $64.69.
Starbucks (NASDAQ:SBUX) last released 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. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The business 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 firm posted $0.55 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Starbucks Co. will post 2.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, November 14th. Starbucks’s dividend payout ratio (DPR) is 59.50%.
In related news, Director Myron E. Ullman III sold 99,166 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total value of $5,459,088.30. Following the transaction, the director now owns 29,000 shares in the company, valued at $1,596,450. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.
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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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