Whitnell & Co. Acquires 1,504 Shares of Starbucks Co. (NASDAQ:SBUX)

Whitnell & Co. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 15.7% during the 3rd quarter, Holdings Channel reports. The firm owned 11,104 shares of the coffee company’s stock after purchasing an additional 1,504 shares during the period. Whitnell & Co.’s holdings in Starbucks were worth $982,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Neville Rodie & Shaw Inc. acquired a new position in shares of Starbucks in the 2nd quarter worth approximately $218,000. Bath Savings Trust Co boosted its holdings in shares of Starbucks by 0.6% in the 2nd quarter. Bath Savings Trust Co now owns 138,722 shares of the coffee company’s stock worth $11,629,000 after acquiring an additional 845 shares in the last quarter. Summit Financial Group Inc. boosted its holdings in shares of Starbucks by 10.2% in the 2nd quarter. Summit Financial Group Inc. now owns 4,214 shares of the coffee company’s stock worth $353,000 after acquiring an additional 389 shares in the last quarter. Winfield Associates Inc. boosted its holdings in shares of Starbucks by 6.1% in the 2nd quarter. Winfield Associates Inc. now owns 3,455 shares of the coffee company’s stock worth $290,000 after acquiring an additional 200 shares in the last quarter. Finally, Swedbank boosted its holdings in shares of Starbucks by 4.8% in the 2nd quarter. Swedbank now owns 1,634,800 shares of the coffee company’s stock worth $137,045,000 after acquiring an additional 75,163 shares in the last quarter. 70.68% of the stock is currently owned by institutional investors.

In related news, Director Javier G. Teruel sold 59,838 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.92, for a total value of $5,799,498.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $96.42, for a total transaction of $961,596.66. The disclosure for this sale can be found here. Insiders sold a total of 112,885 shares of company stock valued at $10,707,543 over the last quarter. 3.98% of the stock is currently owned by company insiders.

Several research analysts have recently commented on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $90.00 target price (up from $80.00) on shares of Starbucks in a report on Friday, July 26th. Oppenheimer upped their price objective on Starbucks from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Cowen set a $93.00 price objective on Starbucks and gave the stock a “hold” rating in a report on Monday, September 23rd. Wedbush reaffirmed a “neutral” rating on shares of Starbucks in a report on Thursday, October 31st. Finally, KeyCorp upped their price objective on Starbucks from $84.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $89.64.

Shares of SBUX traded down $0.18 during trading hours on Friday, reaching $81.77. The stock had a trading volume of 7,054,700 shares, compared to its average volume of 8,267,584. Starbucks Co. has a 52 week low of $60.42 and a 52 week high of $99.72. The company has a market cap of $98.02 billion, a P/E ratio of 28.89, a P/E/G ratio of 2.03 and a beta of 0.53. The firm has a 50-day moving average of $85.72 and a 200 day moving average of $86.55.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.70 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.70. Starbucks had a net margin of 13.58% and a negative return on equity of 75.45%. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period last year, the business posted $0.62 EPS. Starbucks’s revenue was up 7.0% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 3.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Wednesday, November 13th will be paid a $0.41 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.36. This represents a $1.64 annualized dividend and a yield of 2.01%. The ex-dividend date is Tuesday, November 12th. Starbucks’s dividend payout ratio (DPR) is 50.88%.

About Starbucks

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 beverages, iced tea, 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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