Janney Capital Management LLC Grows Position in Starbucks Corporation $SBUX

Janney Capital Management LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 42.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,461 shares of the coffee company’s stock after buying an additional 49,075 shares during the period. Janney Capital Management LLC’s holdings in Starbucks were worth $13,998,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Starbucks by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 112,861,623 shares of the coffee company’s stock valued at $10,341,511,000 after acquiring an additional 802,053 shares during the last quarter. State Street Corp grew its position in shares of Starbucks by 1.2% in the second quarter. State Street Corp now owns 47,513,332 shares of the coffee company’s stock valued at $4,353,647,000 after purchasing an additional 544,534 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Starbucks by 0.4% in the second quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock valued at $2,357,815,000 after purchasing an additional 99,983 shares during the last quarter. Norges Bank purchased a new position in Starbucks during the second quarter worth approximately $1,246,316,000. Finally, Invesco Ltd. lifted its position in Starbucks by 11.2% during the second quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock worth $1,169,011,000 after buying an additional 1,286,451 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX stock opened at $89.96 on Tuesday. The firm has a market cap of $102.29 billion, a P/E ratio of 54.85, a P/E/G ratio of 1.87 and a beta of 0.97. The firm’s 50 day moving average price is $85.31 and its 200-day moving average price is $87.06. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the previous year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, February 13th. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Analysts Set New Price Targets

Several brokerages have issued reports on SBUX. Mizuho set a $86.00 target price on Starbucks and gave the company a “neutral” rating in a report on Friday. Weiss Ratings reissued a “hold (c-)” rating on shares of Starbucks in a report on Monday, December 29th. Sanford C. Bernstein set a $100.00 target price on shares of Starbucks and gave the stock an “outperform” rating in a research note on Thursday, October 30th. UBS Group set a $94.00 price target on shares of Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $102.12.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director owned 53,096 shares in the company, valued at $4,513,160. This trade represents a 28.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.