RiverPark Advisors LLC Increases Holdings in Starbucks Corporation $SBUX

RiverPark Advisors LLC raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,994 shares of the coffee company’s stock after acquiring an additional 2,276 shares during the period. RiverPark Advisors LLC’s holdings in Starbucks were worth $1,649,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Nuveen LLC purchased a new position in Starbucks in the 1st quarter worth $1,379,619,000. Polen Capital Management LLC bought a new position in shares of Starbucks during the first quarter valued at about $503,539,000. Goldman Sachs Group Inc. increased its holdings in shares of Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after buying an additional 3,589,537 shares during the period. Wellington Management Group LLP lifted its stake in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Starbucks by 22.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,578,977 shares of the coffee company’s stock valued at $511,202,000 after acquiring an additional 1,026,056 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of Starbucks stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, with a total value of $994,500.00. Following the transaction, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

Starbucks Trading Up 3.1%

Shares of SBUX opened at $85.91 on Wednesday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $97.69 billion, a price-to-earnings ratio of 52.38, a PEG ratio of 4.28 and a beta of 1.02. The firm’s 50-day moving average price is $83.88 and its 200-day moving average price is $87.71.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is 151.22%.

Analyst Ratings Changes

Several brokerages have weighed in on SBUX. Royal Bank Of Canada set a $100.00 price objective on Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. UBS Group set a $94.00 price target on shares of Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Starbucks in a research report on Monday. Sanford C. Bernstein set a $100.00 target price on shares of Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Guggenheim boosted their price target on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

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.