Pacer Advisors Inc. Buys 5,397 Shares of Starbucks Co. (NASDAQ:SBUX)

Pacer Advisors Inc. lifted its position in Starbucks Co. (NASDAQ:SBUX) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,527 shares of the coffee company’s stock after buying an additional 5,397 shares during the quarter. Pacer Advisors Inc.’s holdings in Starbucks were worth $13,602,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC increased its position in Starbucks by 9.6% during the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after buying an additional 385 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Starbucks during the 1st quarter worth approximately $136,000. Kestra Advisory Services LLC raised its stake in Starbucks by 18.8% in the 1st quarter. Kestra Advisory Services LLC now owns 147,695 shares of the coffee company’s stock valued at $13,498,000 after acquiring an additional 23,326 shares during the period. London & Capital Asset Management Ltd lifted its holdings in Starbucks by 3.8% during the 1st quarter. London & Capital Asset Management Ltd now owns 402,640 shares of the coffee company’s stock valued at $36,797,000 after purchasing an additional 14,670 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its position in Starbucks by 34.6% during the first quarter. Mount Yale Investment Advisors LLC now owns 19,510 shares of the coffee company’s stock worth $1,783,000 after purchasing an additional 5,010 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $102.50 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.60. The company has a market cap of $116.21 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.90 and a beta of 0.97. The firm has a 50 day simple moving average of $97.11 and a 200 day simple moving average of $87.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned $1.06 EPS. As a group, analysts expect that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is currently 73.72%.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SBUX shares. Barclays cut their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $102.81.

Starbucks 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.