Confluence Investment Management LLC Increases Stake in Starbucks Co. (NASDAQ:SBUX)

Confluence Investment Management LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 740,733 shares of the coffee company’s stock after acquiring an additional 12,757 shares during the quarter. Confluence Investment Management LLC owned 0.06% of Starbucks worth $56,585,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SBUX. Advisor Resource Council acquired a new stake in Starbucks in the fourth quarter valued at approximately $669,000. Epoch Investment Partners Inc. grew its holdings in Starbucks by 9.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 344,977 shares of the coffee company’s stock valued at $40,352,000 after purchasing an additional 28,464 shares during the period. Summit Trail Advisors LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $305,000. O Shaughnessy Asset Management LLC grew its holdings in Starbucks by 11.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 40,353 shares of the coffee company’s stock valued at $4,720,000 after purchasing an additional 4,294 shares during the period. Finally, Financial Advisory Service Inc. grew its holdings in Starbucks by 38.2% in the fourth quarter. Financial Advisory Service Inc. now owns 10,575 shares of the coffee company’s stock valued at $1,237,000 after purchasing an additional 2,925 shares during the period. 67.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on SBUX shares. Robert W. Baird raised their price objective on Starbucks from $86.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday. Wedbush raised their price objective on Starbucks from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Starbucks from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup lifted their price target on Starbucks from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 7th. Finally, Morgan Stanley lifted their price target on Starbucks from $88.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday. Fifteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $104.71.

Starbucks Price Performance

SBUX opened at $91.31 on Friday. Starbucks Co. has a 12 month low of $68.39 and a 12 month high of $117.80. The stock has a market capitalization of $104.77 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.48 and a beta of 0.94. The business has a fifty day moving average price of $84.89 and a 200 day moving average price of $81.49.

Starbucks (NASDAQ:SBUXGet Rating) last released its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the previous year, the business posted $1.01 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 2.88 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 2.15%. Starbucks’s dividend payout ratio is currently 55.21%.

Insider Transactions at Starbucks

In other news, EVP Zabrina Jenkins sold 4,020 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the transaction, the executive vice president now directly owns 36,337 shares of the company’s stock, valued at approximately $3,379,341. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Zabrina Jenkins sold 4,020 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the transaction, the executive vice president now directly owns 36,337 shares of the company’s stock, valued at approximately $3,379,341. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mellody L. Hobson acquired 54,750 shares of the stock in a transaction dated Thursday, September 15th. The shares were acquired at an average cost of $92.58 per share, with a total value of $5,068,755.00. Following the completion of the transaction, the director now owns 433,254 shares in the company, valued at approximately $40,110,655.32. The disclosure for this purchase can be found here. 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.

Featured Articles

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.