RiverPark Advisors LLC Grows Stake in Starbucks Corporation $SBUX

RiverPark Advisors LLC lifted its stake in Starbucks Corporation (NASDAQ:SBUX) by 14.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 17,994 shares of the coffee company’s stock after buying an additional 2,276 shares during the quarter. RiverPark Advisors LLC’s holdings in Starbucks were worth $1,649,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks in the second quarter worth approximately $25,000. Chelsea Counsel Co. bought a new stake in shares of Starbucks during the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC raised its holdings in Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Starbucks in the 1st quarter valued at approximately $29,000. Finally, MTM Investment Management LLC purchased a new stake in Starbucks during the 2nd quarter valued at $28,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent analyst reports. TD Cowen restated a “hold” rating and issued a $84.00 price target on shares of Starbucks in a research note on Thursday, October 30th. BTIG Research restated a “buy” rating and set a $105.00 target price on shares of Starbucks in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Saturday. Guggenheim increased their price objective on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Finally, Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

Insider Transactions at Starbucks

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

Starbucks Trading Up 3.1%

SBUX opened at $85.91 on Wednesday. The firm’s 50 day simple moving average is $83.88 and its two-hundred day simple moving average is $87.71. The company has a market capitalization of $97.69 billion, a PE ratio of 52.38, a PEG ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter last year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is presently 151.22%.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of 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.