Belpointe Asset Management LLC Purchases New Stake in Starbucks Co. (SBUX)

Belpointe Asset Management LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, HoldingsChannel.com reports. The fund purchased 4,482 shares of the coffee company’s stock, valued at approximately $241,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares in the last quarter. Capital World Investors increased its holdings in shares of Starbucks by 2.0% during the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after purchasing an additional 895,432 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Starbucks by 5.2% during the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after purchasing an additional 1,060,298 shares in the last quarter. Capital International Investors increased its holdings in shares of Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after purchasing an additional 4,696,452 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Starbucks by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after purchasing an additional 1,809,166 shares in the last quarter. 71.87% of the stock is owned by institutional investors.

Shares of Starbucks Co. (NASDAQ SBUX) opened at $54.58 on Friday. Starbucks Co. has a one year low of $52.58 and a one year high of $64.87. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The stock has a market cap of $78,830.00, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. sell-side analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 annualized dividend and a yield of 2.20%. Starbucks’s dividend payout ratio (DPR) is presently 39.60%.

Several research firms have recently weighed in on SBUX. Wedbush reaffirmed a “buy” rating and set a $70.00 target price on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Oppenheimer reissued a “buy” rating and issued a $66.00 price target on shares of Starbucks in a research note on Friday, January 19th. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price target (up previously from $66.00) on shares of Starbucks in a research note on Friday, January 19th. Barclays reissued an “equal weight” rating and issued a $65.00 price target (up previously from $58.00) on shares of Starbucks in a research note on Tuesday, January 16th. Finally, Goldman Sachs Group cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and dropped their price target for the company from $73.00 to $68.00 in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Starbucks has an average rating of “Buy” and an average price target of $64.32.

In other Starbucks news, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the transaction, the insider now directly owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 597,668 shares of company stock worth $34,216,388. 3.40% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION WARNING: This report was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this report on another publication, it was stolen and republished in violation of US & international copyright laws. The legal version of this report can be read at https://sportsperspectives.com/2018/02/10/belpointe-asset-management-llc-purchases-new-stake-in-starbucks-co-sbux.html.

Starbucks Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply