Alpha Cubed Investments LLC Grows Stock Position in Starbucks Co. (NASDAQ:SBUX)

Alpha Cubed Investments LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 21.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 112,628 shares of the coffee company’s stock after acquiring an additional 19,590 shares during the period. Alpha Cubed Investments LLC’s holdings in Starbucks were worth $9,677,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Fisher Asset Management LLC grew its position in shares of Starbucks by 138.7% during the 2nd quarter. Fisher Asset Management LLC now owns 7,786,036 shares of the coffee company’s stock valued at $572,974,000 after acquiring an additional 4,524,099 shares during the period. Jackson Square Partners LLC acquired a new stake in shares of Starbucks during the 2nd quarter valued at about $265,547,000. Nordea Investment Management AB grew its position in shares of Starbucks by 88.2% during the 2nd quarter. Nordea Investment Management AB now owns 6,929,926 shares of the coffee company’s stock valued at $507,686,000 after acquiring an additional 3,248,488 shares during the period. Advisor Group Holdings Inc. acquired a new stake in shares of Starbucks during the 1st quarter valued at about $40,420,000. Finally, Morgan Stanley grew its position in shares of Starbucks by 15.1% during the 1st quarter. Morgan Stanley now owns 16,926,014 shares of the coffee company’s stock valued at $1,112,717,000 after acquiring an additional 2,219,969 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

A number of research firms have recently commented on SBUX. JPMorgan Chase & Co. raised their target price on Starbucks from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, September 21st. Oppenheimer raised their target price on Starbucks from $85.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, October 5th. UBS Group raised their target price on Starbucks from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Telsey Advisory Group lifted their price objective on Starbucks from $80.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, September 30th. Finally, Cowen upgraded Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $77.00 to $99.00 in a report on Wednesday, September 30th. Sixteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $86.73.

SBUX stock opened at $88.52 on Friday. The firm has a market cap of $103.48 billion, a PE ratio of 79.75, a PEG ratio of 6.38 and a beta of 0.81. The firm’s 50 day moving average price is $86.35 and its 200-day moving average price is $78.11. Starbucks Co. has a one year low of $50.02 and a one year high of $94.13.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. The firm had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.14 billion. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The business’s revenue for the quarter was down 38.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. On average, sell-side analysts forecast that Starbucks Co. will post 0.97 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from Starbucks’s previous quarterly dividend of $0.41. Starbucks’s payout ratio is presently 57.95%.

In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $84.77, for a total value of $360,442.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Clara Shih sold 37,498 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $79.13, for a total value of $2,967,216.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,764 shares of company stock worth $13,404,656. Corporate insiders own 0.41% of the company’s stock.

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

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