Sheaff Brock Investment Advisors LLC Has $1 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Sheaff Brock Investment Advisors LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 15.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,304 shares of the coffee company’s stock after buying an additional 1,400 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Starbucks were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in Starbucks by 2.6% in the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after buying an additional 221,718 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Starbucks in the first quarter worth approximately $415,167,000. Van ECK Associates Corp increased its holdings in Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares during the last quarter. Marshall Wace LLP increased its holdings in Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in Starbucks by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,255,967 shares of the coffee company’s stock worth $317,424,000 after buying an additional 122,886 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Barclays lowered their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Price Performance

Starbucks stock opened at $98.42 on Friday. The stock has a fifty day moving average price of $96.75 and a two-hundred day moving average price of $86.19. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $111.53 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is currently 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.