Starbucks Corporation $SBUX Shares Acquired by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 33.3% in the third quarter, Holdings Channel.com reports. The firm owned 40,000 shares of the coffee company’s stock after acquiring an additional 10,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Starbucks were worth $3,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $25,000. Transce3nd LLC grew its holdings in Starbucks by 270.3% during the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after acquiring an additional 200 shares during the period. Chelsea Counsel Co. acquired a new stake in Starbucks in the second quarter valued at $26,000. MTM Investment Management LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth $28,000. Finally, PFS Partners LLC grew its stake in shares of Starbucks by 457.4% during the 3rd quarter. PFS Partners LLC now owns 340 shares of the coffee company’s stock worth $29,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 1.2%

NASDAQ:SBUX opened at $89.96 on Tuesday. The firm has a market cap of $102.29 billion, a price-to-earnings ratio of 54.85, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The company’s 50-day moving average is $85.31 and its two-hundred day moving average is $87.06.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, equities research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.8%. Starbucks’s payout ratio is currently 151.22%.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of Starbucks stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the transaction, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Dbs Bank cut shares of Starbucks from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. Sanford C. Bernstein set a $100.00 price objective on Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. Royal Bank Of Canada set a $100.00 target price on Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Zacks Research downgraded Starbucks from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $102.12.

Starbucks Company Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.