Matrix Asset Advisors Inc. NY Acquires Shares of 115,924 Starbucks Co. (NASDAQ:SBUX)

Matrix Asset Advisors Inc. NY purchased a new stake in Starbucks Co. (NASDAQ:SBUXGet Rating) in the 2nd quarter, HoldingsChannel reports. The firm purchased 115,924 shares of the coffee company’s stock, valued at approximately $8,855,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mather Group LLC. increased its stake in shares of Starbucks by 3.0% in the 4th quarter. Mather Group LLC. now owns 3,895 shares of the coffee company’s stock valued at $456,000 after purchasing an additional 114 shares in the last quarter. Means Investment CO. Inc. increased its stake in shares of Starbucks by 0.4% in the 4th quarter. Means Investment CO. Inc. now owns 31,819 shares of the coffee company’s stock valued at $3,722,000 after purchasing an additional 118 shares in the last quarter. Wetherby Asset Management Inc. boosted its holdings in Starbucks by 0.3% in the 4th quarter. Wetherby Asset Management Inc. now owns 47,185 shares of the coffee company’s stock worth $5,520,000 after buying an additional 124 shares during the last quarter. Wills Financial Group Inc. boosted its holdings in Starbucks by 1.0% in the 4th quarter. Wills Financial Group Inc. now owns 12,134 shares of the coffee company’s stock worth $1,419,000 after buying an additional 125 shares during the last quarter. Finally, McAdam LLC boosted its holdings in Starbucks by 4.6% in the 1st quarter. McAdam LLC now owns 2,842 shares of the coffee company’s stock worth $259,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 67.97% of the company’s stock.

Starbucks Stock Down 0.7 %

NASDAQ SBUX traded down $0.60 during trading hours on Friday, hitting $84.10. 109,314 shares of the stock were exchanged, compared to its average volume of 8,858,840. The company has a market cap of $96.50 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. Starbucks Co. has a 12-month low of $68.39 and a 12-month high of $117.80. The stock has a 50-day moving average of $86.02 and a 200 day moving average of $81.48.

Starbucks (NASDAQ:SBUXGet Rating) last issued its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.22 billion. During the same period last year, the company posted $1.01 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 2.88 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.33%. Starbucks’s dividend payout ratio (DPR) is 55.21%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Stephens assumed coverage on Starbucks in a report on Thursday. They issued an “equal weight” rating and a $91.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Starbucks from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, September 14th. Robert W. Baird boosted their target price on Starbucks from $86.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, September 14th. Fubon Bank upgraded Starbucks from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Wednesday, September 14th. Finally, Barclays upped their price objective on Starbucks from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, September 14th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $103.50.

Insider Transactions at Starbucks

In other news, Director Mellody L. Hobson bought 54,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average price of $92.58 per share, for a total transaction of $5,068,755.00. Following the completion of the transaction, the director now owns 433,254 shares in the company, valued at $40,110,655.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total value of $373,860.00. Following the transaction, the executive vice president now owns 36,337 shares in the company, valued at approximately $3,379,341. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mellody L. Hobson purchased 54,750 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was bought at an average price of $92.58 per share, for a total transaction of $5,068,755.00. Following the acquisition, the director now owns 433,254 shares in the company, valued at $40,110,655.32. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

About Starbucks

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Further Reading

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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