Tema Etfs LLC Invests $1.45 Million in Starbucks Corporation $SBUX

Tema Etfs LLC bought a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) in the 3rd quarter, Holdings Channel.com reports. The firm bought 17,162 shares of the coffee company’s stock, valued at approximately $1,452,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Starbucks by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 112,861,623 shares of the coffee company’s stock worth $10,341,511,000 after buying an additional 802,053 shares in the last quarter. State Street Corp grew its stake in Starbucks by 1.2% during 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 acquiring an additional 544,534 shares in the last quarter. Geode Capital Management LLC grew its stake in Starbucks by 0.4% during 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 acquiring an additional 99,983 shares in the last quarter. Norges Bank bought a new stake in Starbucks in the 2nd quarter valued at $1,246,316,000. Finally, Invesco Ltd. lifted its stake in Starbucks by 11.2% in the 2nd quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock worth $1,169,011,000 after purchasing an additional 1,286,451 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBUX. Mizuho set a $86.00 target price on Starbucks and gave the company a “neutral” rating in a research report on Friday. Zacks Research lowered shares of Starbucks from a “hold” rating to a “strong sell” rating in a report on Monday, December 29th. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Barclays restated an “overweight” rating and issued a $110.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Starbucks in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of “Hold” and a consensus target price of $102.12.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the acquisition, the director directly owned 53,096 shares in the company, valued at $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Starbucks Trading Up 1.2%

Shares of SBUX opened at $89.96 on Tuesday. The firm has a market cap of $102.29 billion, a P/E ratio of 54.85, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The company’s 50-day moving average price is $85.31 and its 200 day moving average price is $87.06.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. Equities research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

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

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.