IFM Investors Pty Ltd Acquires 931 Shares of Starbucks Co. (NASDAQ:SBUX)

by · The Markets Daily

IFM Investors Pty Ltd raised its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,972 shares of the coffee company’s stock after buying an additional 931 shares during the period. IFM Investors Pty Ltd’s holdings in Starbucks were worth $21,933,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Fidelis Capital Partners LLC grew its position in shares of Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the last quarter. AMI Asset Management Corp boosted its holdings in shares of Starbucks by 2.8% during the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock valued at $33,384,000 after acquiring an additional 10,092 shares in the last quarter. LRI Investments LLC acquired a new stake in Starbucks during the 1st quarter worth approximately $136,000. BNP Paribas bought a new position in Starbucks during the 1st quarter worth $9,332,000. Finally, Great Valley Advisor Group Inc. raised its position in Starbucks by 45.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after purchasing an additional 5,377 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBUX. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday. Finally, BMO Capital Markets increased their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.48.

View Our Latest Stock Analysis on SBUX

Starbucks Trading Up 0.2 %

Shares of NASDAQ:SBUX traded up $0.21 during mid-day trading on Thursday, reaching $97.86. The company had a trading volume of 4,803,363 shares, compared to its average volume of 11,349,986. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market cap of $110.89 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.14 and a beta of 0.97. The company’s 50-day moving average price is $95.38 and its 200-day moving average price is $84.89.

Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the business earned $1.00 EPS. Starbucks’s revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is 63.87%.

About Starbucks

(Free Report)

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.

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