Cambridge Investment Research Advisors Inc. Acquires 6,929 Shares of Starbucks Co. (NASDAQ:SBUX)

Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 345,534 shares of the coffee company’s stock after purchasing an additional 6,929 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Starbucks were worth $38,634,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SBUX. Breiter Capital Management Inc. boosted its position in Starbucks by 13.5% during the 2nd quarter. Breiter Capital Management Inc. now owns 18,805 shares of the coffee company’s stock valued at $2,103,000 after buying an additional 2,238 shares during the period. Point72 Asset Management L.P. purchased a new stake in Starbucks during the 1st quarter valued at $9,365,000. Aptus Capital Advisors LLC boosted its position in Starbucks by 12.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 37,674 shares of the coffee company’s stock valued at $4,212,000 after buying an additional 4,053 shares during the period. Exchange Capital Management Inc. boosted its position in Starbucks by 7.4% during the 1st quarter. Exchange Capital Management Inc. now owns 36,290 shares of the coffee company’s stock valued at $3,965,000 after buying an additional 2,513 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Starbucks during the 1st quarter valued at $4,283,000. 68.27% of the stock is currently owned by institutional investors.

NASDAQ:SBUX opened at $118.86 on Wednesday. The firm has a market cap of $140.15 billion, a P/E ratio of 49.73, a P/E/G ratio of 3.06 and a beta of 0.88. Starbucks Co. has a fifty-two week low of $81.75 and a fifty-two week high of $126.32. The firm has a 50-day simple moving average of $118.21 and a two-hundred day simple moving average of $114.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Monday, July 26th. The coffee company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.23. The business had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.26 billion. Starbucks had a net margin of 10.43% and a negative return on equity of 43.16%. Starbucks’s revenue was up 77.6% compared to the same quarter last year. During the same period last year, the business earned ($0.46) EPS. Sell-side analysts anticipate that Starbucks Co. will post 3.25 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Thursday, August 12th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, August 11th. This represents a $1.80 dividend on an annualized basis and a yield of 1.51%. Starbucks’s dividend payout ratio is currently 153.85%.

Several equities research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Starbucks from $104.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Starbucks in a research report on Thursday, September 2nd. They set a “hold” rating and a $127.00 price target for the company. Royal Bank of Canada raised their target price on shares of Starbucks from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Morgan Stanley raised their target price on shares of Starbucks from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 28th. Finally, Guggenheim assumed coverage on shares of Starbucks in a research report on Monday, July 26th. They issued a “neutral” rating and a $125.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Starbucks currently has an average rating of “Buy” and an average price target of $126.15.

In other news, COO John Culver sold 148,619 shares of Starbucks stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $119.00, for a total value of $17,685,661.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin R. Johnson sold 359,177 shares of Starbucks stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $122.81, for a total transaction of $44,110,527.37. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

Starbucks Company Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

Further Reading: Yield Curve

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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