Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,411 shares of the coffee company’s stock after acquiring an additional 2,489 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Starbucks were worth $2,319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of Starbucks by 100.6% in 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 purchasing an additional 7,598,146 shares during the period. FMR LLC raised its position in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Marshall Wace LLP boosted its stake in Starbucks by 1,466.3% during the 2nd 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 during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in 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. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Starbucks in the third quarter valued at about $126,574,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $93.07 on Wednesday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The company’s 50 day moving average price is $95.98 and its 200 day moving average price is $91.34. The firm has a market capitalization of $105.52 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted 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. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. Sell-side analysts forecast that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This 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. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SBUX shares. BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley raised their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada assumed coverage on Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective on the stock. Finally, Wedbush cut 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. Three investment analysts have rated the stock with a sell rating, eight 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

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.