Altium Wealth Management LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,642 shares of the coffee company’s stock after acquiring an additional 473 shares during the period. Altium Wealth Management LLC’s holdings in Starbucks were worth $1,000,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fisher Asset Management LLC grew its position in Starbucks by 138.7% in the 2nd quarter. Fisher Asset Management LLC now owns 7,786,036 shares of the coffee company’s stock worth $572,974,000 after purchasing an additional 4,524,099 shares during the period. Jackson Square Partners LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at $265,547,000. Nordea Investment Management AB grew its position in shares of Starbucks by 88.2% during the 2nd quarter. Nordea Investment Management AB now owns 6,929,926 shares of the coffee company’s stock valued at $507,686,000 after acquiring an additional 3,248,488 shares during the period. Morgan Stanley grew its position in shares of Starbucks by 15.1% during the 1st quarter. Morgan Stanley now owns 16,926,014 shares of the coffee company’s stock valued at $1,112,717,000 after acquiring an additional 2,219,969 shares during the period. Finally, FMR LLC grew its position in shares of Starbucks by 11.2% during the 2nd quarter. FMR LLC now owns 21,754,140 shares of the coffee company’s stock valued at $1,600,888,000 after acquiring an additional 2,199,811 shares during the period. 68.36% of the stock is owned by institutional investors.
SBUX has been the subject of a number of recent research reports. Telsey Advisory Group boosted their price objective on shares of Starbucks from $80.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, September 30th. BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday. MKM Partners lifted their target price on shares of Starbucks from $74.00 to $79.00 in a research note on Wednesday, July 29th. Cowen upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $77.00 to $99.00 in a research note on Wednesday, September 30th. Finally, Stephens lifted their target price on shares of Starbucks from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Fifteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $87.54.
Shares of NASDAQ:SBUX opened at $90.05 on Wednesday. The company has a market capitalization of $105.27 billion, a price-to-earnings ratio of 81.13, a PEG ratio of 2.26 and a beta of 0.81. Starbucks Co. has a 12 month low of $50.02 and a 12 month high of $94.13. The firm’s 50-day moving average is $87.13 and its 200 day moving average is $79.40.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.15. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.14 billion. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The firm’s revenue was down 38.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. As a group, analysts predict that Starbucks Co. will post 0.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a boost from Starbucks’s previous quarterly dividend of $0.41. Starbucks’s dividend payout ratio is presently 57.95%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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