Balasa Dinverno & Foltz LLC Has $1.35 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Balasa Dinverno & Foltz LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,292 shares of the coffee company’s stock after purchasing an additional 1,294 shares during the quarter. Balasa Dinverno & Foltz LLC’s holdings in Starbucks were worth $1,352,000 at the end of the most recent reporting period.

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Several other institutional investors have also recently made changes to their positions in SBUX. Invesco Ltd. raised its stake in Starbucks by 18.4% in the second quarter. Invesco Ltd. now owns 17,382,380 shares of the coffee company’s stock valued at $1,457,167,000 after buying an additional 2,706,533 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Starbucks by 977.6% during the second quarter. Nuveen Asset Management LLC now owns 7,923,411 shares of the coffee company’s stock worth $664,219,000 after purchasing an additional 7,188,139 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Starbucks by 8.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,810,825 shares of the coffee company’s stock worth $487,122,000 after purchasing an additional 462,682 shares in the last quarter. APG Asset Management N.V. increased its position in shares of Starbucks by 87.0% during the second quarter. APG Asset Management N.V. now owns 5,538,794 shares of the coffee company’s stock worth $407,725,000 after purchasing an additional 2,576,900 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Starbucks by 1.5% during the second quarter. UBS Asset Management Americas Inc. now owns 4,634,647 shares of the coffee company’s stock worth $388,522,000 after purchasing an additional 68,949 shares in the last quarter. 69.98% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on SBUX. Robert W. Baird reiterated a “hold” rating on shares of Starbucks in a research report on Wednesday, September 4th. BTIG Research reiterated a “hold” rating on shares of Starbucks in a research report on Wednesday, September 4th. Bank of America set a $100.00 price target on Starbucks and gave the company a “buy” rating in a research report on Monday, September 30th. BidaskClub upgraded Starbucks from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Weeden restated a “neutral” rating on shares of Starbucks in a research report on Friday, November 1st. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $90.19.

Shares of Starbucks stock traded up $0.58 during trading on Wednesday, hitting $85.40. 5,940,275 shares of the company were exchanged, compared to its average volume of 8,139,897. Starbucks Co. has a fifty-two week low of $60.42 and a fifty-two week high of $99.72. The stock has a market capitalization of $100.17 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 2.12 and a beta of 0.51. The firm has a 50 day moving average price of $83.98 and a 200 day moving average price of $87.38.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.70 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.70. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.68 billion. Starbucks had a negative return on equity of 75.45% and a net margin of 13.58%. Starbucks’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. As a group, research analysts forecast that Starbucks Co. will post 3.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Wednesday, November 13th were issued a $0.41 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Starbucks’s previous quarterly dividend of $0.36. This represents a $1.64 annualized dividend and a yield of 1.92%. Starbucks’s payout ratio is 57.95%.

In other news, EVP Vivek C. Varma sold 21,128 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $95.86, for a total transaction of $2,025,330.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jill Walker sold 2,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.80, for a total value of $191,600.00. Following the sale, the chief accounting officer now owns 39,999 shares of the company’s stock, valued at $3,831,904.20. The disclosure for this sale can be found here. Insiders sold a total of 43,074 shares of company stock valued at $3,946,448 over the last quarter. 3.98% of the stock is currently owned by insiders.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; 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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