Pacer Advisors Inc. Purchases 50,030 Shares of Starbucks Co. (NASDAQ:SBUX)

Pacer Advisors Inc. raised its position in Starbucks Co. (NASDAQ:SBUX) by 35.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,557 shares of the coffee company’s stock after purchasing an additional 50,030 shares during the period. Pacer Advisors Inc.’s holdings in Starbucks were worth $17,297,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. United Asset Strategies Inc. boosted its stake in Starbucks by 2.8% during the fourth quarter. United Asset Strategies Inc. now owns 125,107 shares of the coffee company’s stock valued at $11,416,000 after buying an additional 3,401 shares during the period. Blue Trust Inc. raised its holdings in shares of Starbucks by 71.7% in the 4th quarter. Blue Trust Inc. now owns 23,413 shares of the coffee company’s stock valued at $2,282,000 after acquiring an additional 9,779 shares in the last quarter. Narwhal Capital Management boosted its position in shares of Starbucks by 3.6% during the 4th quarter. Narwhal Capital Management now owns 24,349 shares of the coffee company’s stock valued at $2,222,000 after acquiring an additional 848 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Starbucks by 5.8% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 40,680 shares of the coffee company’s stock worth $3,712,000 after purchasing an additional 2,242 shares in the last quarter. Finally, Stablepoint Partners LLC increased its position in shares of Starbucks by 2.0% in the fourth quarter. Stablepoint Partners LLC now owns 30,003 shares of the coffee company’s stock worth $2,738,000 after purchasing an additional 576 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BTIG Research increased their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, Wedbush cut their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $104.08.

Starbucks Trading Up 0.4 %

Shares of NASDAQ SBUX opened at $100.46 on Wednesday. The firm has a fifty day simple moving average of $95.65 and a two-hundred day simple moving average of $92.71. The firm has a market capitalization of $113.90 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period last year, the firm earned $0.90 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.43%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Starbucks Company 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.