Sandy Spring Bank Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

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Sandy Spring Bank lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 9.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,563 shares of the coffee company’s stock after buying an additional 3,740 shares during the period. Sandy Spring Bank’s holdings in Starbucks were worth $3,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Morgan Stanley grew its position in Starbucks by 15.1% during the 1st quarter. Morgan Stanley now owns 16,926,014 shares of the coffee company’s stock worth $1,112,717,000 after purchasing an additional 2,219,969 shares during the last quarter. Kistler Tiffany Companies LLC grew its position in Starbucks by 28.3% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 7,114 shares of the coffee company’s stock worth $523,000 after purchasing an additional 1,571 shares during the last quarter. Stack Financial Management Inc grew its position in Starbucks by 0.8% during the 2nd quarter. Stack Financial Management Inc now owns 380,520 shares of the coffee company’s stock worth $28,002,000 after purchasing an additional 3,151 shares during the last quarter. Valeo Financial Advisors LLC grew its position in Starbucks by 82.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 44,653 shares of the coffee company’s stock worth $3,286,000 after purchasing an additional 20,120 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in Starbucks by 61.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 23,991 shares of the coffee company’s stock worth $1,765,000 after purchasing an additional 9,106 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Kevin R. Johnson sold 107,764 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $96.78, for a total value of $10,429,399.92. Following the completion of the transaction, the chief executive officer now owns 404,701 shares of the company’s stock, valued at $39,166,962.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction that occurred 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 owns 22,776 shares of the company’s stock, valued at $1,980,828.72. The disclosure for this sale can be found here. In the last three months, insiders sold 275,066 shares of company stock valued at $25,716,324. Company insiders own 0.41% of the company’s stock.

Several brokerages have issued reports on SBUX. Credit Suisse Group raised their price objective on shares of Starbucks from $82.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. Stephens lifted their target price on shares of Starbucks from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. Barclays raised their price objective on shares of Starbucks from $88.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, BidaskClub upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 28th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $88.35.

SBUX traded down $0.36 during midday trading on Tuesday, reaching $97.42. 130,621 shares of the company’s stock were exchanged, compared to its average volume of 10,225,826. The business’s 50-day moving average price is $89.39 and its 200 day moving average price is $80.98. The stock has a market capitalization of $114.30 billion, a PE ratio of 88.09, a P/E/G ratio of 2.26 and a beta of 0.81. Starbucks Co. has a 1-year low of $50.02 and a 1-year high of $97.81.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.07 billion. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The company’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 earnings per share. Equities analysts predict that Starbucks Co. will post 0.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Tuesday, November 10th. This is a positive change from Starbucks’s previous quarterly dividend of $0.41. Starbucks’s payout ratio is currently 63.60%.

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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