Fiduciary Group LLC Takes Position in Starbucks Co. (SBUX)

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Fiduciary Group LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 61,963 shares of the coffee company’s stock, valued at approximately $3,522,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Archford Capital Strategies LLC lifted its position in Starbucks by 669.7% in the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock valued at $107,000 after purchasing an additional 1,902 shares during the last quarter. Fort L.P. bought a new stake in Starbucks in the second quarter valued at approximately $112,000. Point72 Hong Kong Ltd bought a new stake in Starbucks in the second quarter valued at approximately $115,000. RPg Family Wealth Advisory LLC lifted its position in Starbucks by 155.6% in the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock valued at $134,000 after purchasing an additional 1,673 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in Starbucks by 52.5% in the second quarter. Chicago Partners Investment Group LLC now owns 2,941 shares of the coffee company’s stock valued at $144,000 after purchasing an additional 1,013 shares during the last quarter. 72.02% of the stock is owned by institutional investors.

Several analysts have weighed in on the company. Wells Fargo & Co boosted their price objective on Starbucks from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday. BidaskClub upgraded Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Bank of America boosted their price objective on Starbucks from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. Finally, KeyCorp reiterated a “buy” rating on shares of Starbucks in a research report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $60.48.

In related news, Director Myron E. Ullman III sold 15,000 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $52.13, for a total value of $781,950.00. Following the sale, the director now directly owns 29,000 shares of the company’s stock, valued at $1,511,770. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Javier G. Teruel sold 166,666 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $52.70, for a total value of $8,783,298.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 295,832 shares of company stock worth $15,834,037. 3.40% of the stock is owned by insiders.

Shares of SBUX stock opened at $58.66 on Friday. The firm has a market capitalization of $79.73 billion, a P/E ratio of 28.48, a PEG ratio of 1.61 and a beta of 0.60. Starbucks Co. has a twelve month low of $47.37 and a twelve month high of $61.94. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.76 and a current ratio of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 26th. The coffee company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.25 billion. Starbucks had a return on equity of 67.11% and a net margin of 18.87%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 2.4 earnings per share for the current fiscal year.

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 coffee and tea products, 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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