Waycross Partners LLC Purchases 384 Shares of Starbucks Co. (NASDAQ:SBUX)

Waycross Partners LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,884 shares of the coffee company’s stock after purchasing an additional 384 shares during the period. Waycross Partners LLC’s holdings in Starbucks were worth $539,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC grew its holdings in shares of Starbucks by 0.6% in the third quarter. Mutual of America Capital Management LLC now owns 154,718 shares of the coffee company’s stock worth $17,067,000 after purchasing an additional 899 shares during the last quarter. Buckingham Strategic Wealth LLC lifted its stake in Starbucks by 0.6% in the third quarter. Buckingham Strategic Wealth LLC now owns 31,838 shares of the coffee company’s stock worth $3,512,000 after acquiring an additional 204 shares during the period. Panagora Asset Management Inc. lifted its stake in Starbucks by 42.1% in the third quarter. Panagora Asset Management Inc. now owns 113,298 shares of the coffee company’s stock worth $12,498,000 after acquiring an additional 33,593 shares during the period. ARGI Investment Services LLC lifted its stake in Starbucks by 5.6% in the third quarter. ARGI Investment Services LLC now owns 4,736 shares of the coffee company’s stock worth $522,000 after acquiring an additional 250 shares during the period. Finally, Formidable Asset Management LLC lifted its stake in Starbucks by 0.6% in the third quarter. Formidable Asset Management LLC now owns 24,756 shares of the coffee company’s stock worth $2,731,000 after acquiring an additional 149 shares during the period. Hedge funds and other institutional investors own 68.26% of the company’s stock.

Several analysts have commented on the stock. Credit Suisse Group decreased their price target on shares of Starbucks from $137.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, October 29th. Royal Bank of Canada lowered shares of Starbucks from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $124.00 to $122.00 in a research report on Friday, January 7th. Bank of America assumed coverage on shares of Starbucks in a research report on Monday, October 11th. They issued a “buy” rating and a $135.00 price objective for the company. Stephens raised shares of Starbucks from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $118.00 to $130.00 in a research report on Monday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, December 14th. Twelve equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Buy” and an average target price of $123.57.

In other Starbucks news, EVP Angela Lis sold 6,000 shares of the company’s stock in a transaction on Friday, December 10th. The shares were sold at an average price of $116.88, for a total transaction of $701,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Aaron Conway sold 47,088 shares of the company’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $111.50, for a total transaction of $5,250,312.00. The disclosure for this sale can be found here. Insiders have sold a total of 307,118 shares of company stock valued at $35,431,134 in the last quarter. 0.36% of the stock is currently owned by company insiders.

SBUX stock traded down $2.32 during trading on Friday, reaching $100.08. 446,657 shares of the stock were exchanged, compared to its average volume of 9,230,075. The business has a 50 day moving average price of $112.28 and a 200-day moving average price of $114.45. Starbucks Co. has a 1 year low of $95.92 and a 1 year high of $126.32. The firm has a market capitalization of $117.41 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 1.52 and a beta of 0.83.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, October 28th. The coffee company reported $1.00 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.00. The business had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $8.22 billion. Starbucks had a net margin of 14.45% and a negative return on equity of 55.34%. The business’s revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Sell-side analysts expect that Starbucks Co. will post 3.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 25th. Shareholders of record on Friday, February 11th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, February 10th. Starbucks’s dividend payout ratio (DPR) is presently 55.21%.

About Starbucks

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America; International; and Channel Development. The North America and International segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

Further Reading: Dollar Cost Averaging

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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