Starbucks Co. (NASDAQ:SBUX) Shares Acquired by RiverPark Advisors LLC

by · The Cerbat Gem

RiverPark Advisors LLC grew its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,886 shares of the coffee company’s stock after buying an additional 551 shares during the quarter. RiverPark Advisors LLC’s holdings in Starbucks were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC acquired a new position in Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC grew its stake in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks during the 2nd quarter worth $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks during the 2nd quarter worth $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 0.2 %

SBUX opened at $98.42 on Friday. The business has a 50 day moving average price of $96.75 and a two-hundred day moving average price of $86.18. The company has a market cap of $111.53 billion, a PE ratio of 29.73, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.48%. Starbucks’s dividend payout ratio is currently 68.88%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBUX. Royal Bank of Canada began coverage on Starbucks in a research note on Friday. They set an “outperform” rating and a $115.00 target price for the company. Wedbush lowered their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Stifel Nicolaus upped their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

Read Our Latest Report on Starbucks

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.98% of the company’s stock.

Starbucks Company Profile

(Free Report)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of 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.

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