SageView Advisory Group LLC Grows Stake in Starbucks Co. (NASDAQ:SBUX)

SageView Advisory Group LLC increased its stake in Starbucks Co. (NASDAQ:SBUXFree Report) by 240.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,617 shares of the coffee company’s stock after acquiring an additional 14,561 shares during the period. SageView Advisory Group LLC’s holdings in Starbucks were worth $1,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. raised its stake in shares of Starbucks by 0.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 326,278 shares of the coffee company’s stock valued at $29,779,000 after acquiring an additional 2,790 shares in the last quarter. Pinnacle Financial Partners Inc raised its stake in shares of Starbucks by 10.0% during the third quarter. Pinnacle Financial Partners Inc now owns 32,148 shares of the coffee company’s stock valued at $2,934,000 after acquiring an additional 2,910 shares in the last quarter. Achmea Investment Management B.V. raised its stake in shares of Starbucks by 4.7% during the third quarter. Achmea Investment Management B.V. now owns 99,626 shares of the coffee company’s stock valued at $9,093,000 after acquiring an additional 4,517 shares in the last quarter. Ieq Capital LLC raised its stake in shares of Starbucks by 1.1% during the third quarter. Ieq Capital LLC now owns 80,704 shares of the coffee company’s stock valued at $7,366,000 after acquiring an additional 839 shares in the last quarter. Finally, Forum Financial Management LP raised its stake in Starbucks by 3.5% in the third quarter. Forum Financial Management LP now owns 6,688 shares of the coffee company’s stock worth $610,000 after buying an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX traded up $0.31 during midday trading on Friday, reaching $78.62. The stock had a trading volume of 5,819,964 shares, compared to its average volume of 10,230,813. The company’s fifty day simple moving average is $84.31 and its two-hundred day simple moving average is $92.05. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The company has a market cap of $89.05 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.76 and a beta of 0.97.

Starbucks (NASDAQ:SBUXGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. Starbucks’s revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.90%. Starbucks’s dividend payout ratio is currently 62.81%.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 4,000 shares of company stock valued at $342,050. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SBUX shares. JPMorgan Chase & Co. reduced their price objective on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. UBS Group reduced their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. William Blair downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. BTIG Research lowered their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Morgan Stanley lowered their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $96.43.

View Our Latest Research Report on SBUX

Starbucks Company Profile

(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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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