Tectonic Advisors LLC Has $1.23 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Tectonic Advisors LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX – Get Rating) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,644 shares of the coffee company’s stock after buying an additional 245 shares during the period. Tectonic Advisors LLC’s holdings in Starbucks were worth $1,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Starbucks by 29.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,598,025 shares of the coffee company’s stock valued at $1,038,753,000 after purchasing an additional 3,133,826 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Starbucks by 18.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,811,297 shares of the coffee company’s stock worth $892,535,000 after buying an additional 1,531,708 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Starbucks by 0.3% during the 2nd quarter. Legal & General Group Plc now owns 8,318,450 shares of the coffee company’s stock worth $635,446,000 after buying an additional 24,620 shares during the period. Public Investment Fund bought a new position in Starbucks in the 2nd quarter valued at about $482,273,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Starbucks by 47.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,913,555 shares of the coffee company’s stock valued at $446,986,000 after acquiring an additional 1,592,261 shares during the period. 69.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company initiated coverage on Starbucks in a research report on Monday, January 23rd. They issued an “overweight” rating and a $120.00 target price on the stock. Cowen lifted their target price on Starbucks from $104.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, January 4th. Stifel Nicolaus upped their price target on shares of Starbucks from $93.00 to $117.00 and gave the company a “hold” rating in a research note on Monday. Wedbush lifted their price objective on shares of Starbucks from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, November 4th. Finally, Tigress Financial restated a “buy” rating and set a $136.00 target price on shares of Starbucks in a research report on Friday, January 20th. Fourteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.70.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 15,320 shares of Starbucks stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $99.14, for a total transaction of $1,518,824.80. Following the transaction, the insider now owns 68,579 shares in the company, valued at $6,798,922.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Michael Aaron Conway sold 15,320 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $99.14, for a total transaction of $1,518,824.80. Following the completion of the transaction, the insider now directly owns 68,579 shares of the company’s stock, valued at approximately $6,798,922.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Clara Shih sold 7,000 shares of the company’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $103.29, for a total value of $723,030.00. Following the completion of the sale, the director now owns 13,661 shares in the company, valued at approximately $1,411,044.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,280 shares of company stock worth $2,663,595. 0.27% of the stock is currently owned by company insiders.

Starbucks Stock Down 0.6 %

Shares of NASDAQ SBUX traded down $0.64 during midday trading on Wednesday, reaching $108.50. 1,140,142 shares of the company were exchanged, compared to its average volume of 6,165,488. The stock’s 50-day moving average price is $102.81 and its 200-day moving average price is $92.99. The stock has a market cap of $124.62 billion, a P/E ratio of 38.70, a PEG ratio of 2.29 and a beta of 0.89. Starbucks Co. has a one year low of $68.39 and a one year high of $109.76.

Starbucks (NASDAQ:SBUX – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The coffee company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $8.41 billion for the quarter, compared to analyst estimates of $8.43 billion. Starbucks had a negative return on equity of 39.85% and a net margin of 10.18%. On average, equities research analysts anticipate that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 10th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, February 9th. This represents a $2.12 annualized dividend and a yield of 1.95%. Starbucks’s dividend payout ratio is presently 75.18%.

About Starbucks

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Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.