Cetera Advisors LLC grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,263 shares of the coffee company’s stock after acquiring an additional 251 shares during the quarter. Cetera Advisors LLC’s holdings in Starbucks were worth $5,474,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of SBUX. Advisory Alpha LLC increased its holdings in Starbucks by 4.5% in the 1st quarter. Advisory Alpha LLC now owns 2,152 shares of the coffee company’s stock worth $224,000 after purchasing an additional 92 shares in the last quarter. Western Pacific Wealth Management LP increased its stake in shares of Starbucks by 4.2% in the first quarter. Western Pacific Wealth Management LP now owns 2,379 shares of the coffee company’s stock valued at $248,000 after buying an additional 95 shares during the period. Alliance Wealth Advisors LLC UT raised its holdings in Starbucks by 1.6% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 6,408 shares of the coffee company’s stock valued at $667,000 after buying an additional 100 shares during the last quarter. Birinyi Associates Inc. boosted its position in Starbucks by 0.9% during the 1st quarter. Birinyi Associates Inc. now owns 11,616 shares of the coffee company’s stock worth $1,210,000 after buying an additional 100 shares during the period. Finally, Investment Advisory Services Inc. TX ADV grew its holdings in Starbucks by 0.7% during the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock worth $1,408,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.
Starbucks Trading Up 1.1 %
Shares of SBUX stock opened at $107.21 on Friday. The firm has a fifty day simple moving average of $95.71 and a two-hundred day simple moving average of $98.94. Starbucks Co. has a 12 month low of $89.21 and a 12 month high of $115.48. The firm has a market capitalization of $122.80 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98.
Starbucks Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be given a dividend of $0.57 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, November 9th. This represents a $2.28 annualized dividend and a dividend yield of 2.13%. Starbucks’s payout ratio is presently 63.69%.
Insider Buying and Selling
In other Starbucks news, insider Michael Aaron Conway sold 6,500 shares of Starbucks stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total transaction of $681,005.00. Following the transaction, the insider now directly owns 72,822 shares of the company’s stock, valued at approximately $7,629,560.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 504 shares of Starbucks stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $105.66, for a total transaction of $53,252.64. Following the transaction, the chief financial officer now owns 75,027 shares of the company’s stock, valued at approximately $7,927,352.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Aaron Conway sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $104.77, for a total value of $681,005.00. Following the completion of the transaction, the insider now owns 72,822 shares in the company, valued at approximately $7,629,560.94. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on SBUX shares. Stifel Nicolaus cut their price target on shares of Starbucks from $117.00 to $110.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. Jefferies Financial Group reduced their price target on Starbucks from $107.00 to $100.00 in a research report on Tuesday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on Starbucks in a report on Thursday, October 19th. They issued a “buy” rating and a $118.00 target price on the stock. TD Cowen downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $117.00 to $107.00 in a research note on Tuesday, September 19th. Finally, Wedbush upped their price target on shares of Starbucks from $100.00 to $106.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.52.
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.
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