Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 28.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,900 shares of the coffee company’s stock after purchasing an additional 1,750 shares during the period. Insigneo Advisory Services LLC’s holdings in Starbucks were worth $770,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the period. FMR LLC grew its position in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Starbucks during the second quarter worth $243,910,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.9 %

SBUX opened at $100.11 on Friday. The business’s 50 day moving average is $98.09 and its 200-day moving average is $88.85. The stock has a market cap of $113.50 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.95 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the business earned $1.06 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts forecast that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 73.72%.

Analyst Ratings Changes

SBUX has been the topic of a number of recent analyst reports. Royal Bank of Canada assumed coverage on shares of Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective on the stock. Wells Fargo & Company increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is owned by corporate insiders.

Starbucks Profile

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.