First Allied Advisory Services Inc. Acquires 8,857 Shares of Starbucks Co. (SBUX)

First Allied Advisory Services Inc. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,484 shares of the coffee company’s stock after acquiring an additional 8,857 shares during the period. First Allied Advisory Services Inc.’s holdings in Starbucks were worth $5,238,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in shares of Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after buying an additional 13,452,551 shares during the period. Parnassus Investments CA purchased a new stake in shares of Starbucks in the 3rd quarter valued at approximately $498,863,000. Capital International Investors grew its stake in shares of Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after buying an additional 4,696,452 shares during the period. Harding Loevner LP purchased a new stake in shares of Starbucks in the 3rd quarter valued at approximately $128,044,000. Finally, Renaissance Technologies LLC grew its stake in shares of Starbucks by 539.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after buying an additional 3,305,700 shares during the period. Institutional investors own 73.49% of the company’s stock.

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In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the sale, the director now directly owns 39,000 shares in the company, valued at approximately $2,126,280. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Craig Weatherup sold 59,838 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the sale, the director now owns 26,500 shares in the company, valued at $1,592,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 247,664 shares of company stock worth $14,243,602. 3.40% of the stock is owned by company insiders.

Several research firms have recently weighed in on SBUX. Deutsche Bank reissued a “buy” rating and issued a $63.00 price target on shares of Starbucks in a research note on Friday, January 26th. Tigress Financial reissued a “buy” rating on shares of Starbucks in a research note on Tuesday, January 2nd. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 price target for the company. in a research note on Monday, November 27th. Oppenheimer reissued a “buy” rating and issued a $66.00 price target on shares of Starbucks in a research note on Friday, January 26th. Finally, BMO Capital Markets increased their price target on shares of Starbucks to $58.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $64.63.

Shares of SBUX stock opened at $56.31 on Friday. The stock has a market cap of $82,185.43, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.62 and a beta of 0.66. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. equities analysts predict that Starbucks Co. will post 2.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.13%. Starbucks’s dividend payout ratio (DPR) is presently 39.60%.

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Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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