180 Wealth Advisors LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,688 shares of the coffee company’s stock after purchasing an additional 128 shares during the period. Starbucks comprises approximately 1.5% of 180 Wealth Advisors LLC’s investment portfolio, making the stock its 10th largest holding. 180 Wealth Advisors LLC’s holdings in Starbucks were worth $4,132,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Endurance Wealth Management Inc. lifted its holdings in shares of Starbucks by 1,352.7% in the 2nd quarter. Endurance Wealth Management Inc. now owns 32,817 shares of the coffee company’s stock valued at $2,415,000 after buying an additional 30,558 shares during the period. Signature Wealth Management Group lifted its position in shares of Starbucks by 8.8% during the 2nd quarter. Signature Wealth Management Group now owns 9,688 shares of the coffee company’s stock valued at $713,000 after acquiring an additional 787 shares during the period. Clearbridge Investments LLC lifted its position in shares of Starbucks by 7.7% during the 1st quarter. Clearbridge Investments LLC now owns 154,666 shares of the coffee company’s stock valued at $10,168,000 after acquiring an additional 11,024 shares during the period. D. B. Root & Company LLC lifted its position in shares of Starbucks by 3.0% during the 2nd quarter. D. B. Root & Company LLC now owns 11,700 shares of the coffee company’s stock valued at $861,000 after acquiring an additional 343 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Starbucks by 2.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 207,745 shares of the coffee company’s stock valued at $15,287,000 after acquiring an additional 4,300 shares during the period. Institutional investors own 68.36% of the company’s stock.
Shares of NASDAQ SBUX traded down $1.66 during trading on Monday, hitting $89.14. 609,596 shares of the company traded hands, compared to its average volume of 10,269,175. Starbucks Co. has a 1 year low of $50.02 and a 1 year high of $94.13. The company has a 50-day moving average price of $86.79 and a 200-day moving average price of $78.94. The firm has a market capitalization of $106.15 billion, a P/E ratio of 80.05, a P/E/G ratio of 2.26 and a beta of 0.81.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.02%. This is a boost from Starbucks’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Tuesday, November 10th. Starbucks’s dividend payout ratio is 57.95%.
In related news, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $86.97, for a total transaction of $369,796.44. Following the completion of the sale, the director now directly owns 22,776 shares of the company’s stock, valued at approximately $1,980,828.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Clara Shih sold 37,498 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $79.13, for a total transaction of $2,967,216.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,764 shares of company stock valued at $13,404,656. 0.41% of the stock is owned by corporate insiders.
A number of research firms have recently issued reports on SBUX. Wells Fargo & Company lifted their price target on shares of Starbucks from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Royal Bank of Canada lifted their price target on shares of Starbucks from $89.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday. Oppenheimer lifted their price objective on Starbucks from $85.00 to $101.00 and gave the stock an “outperform” rating in a research report on Monday, October 5th. Bank of America lifted their price objective on Starbucks from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. Finally, MKM Partners lifted their price objective on Starbucks from $74.00 to $79.00 in a research report on Wednesday, July 29th. Sixteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $87.54.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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