Quantinno Capital Management LP Purchases 28,103 Shares of Starbucks Co. (NASDAQ:SBUX)

Quantinno Capital Management LP raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 36.9% during the third quarter, HoldingsChannel reports. The firm owned 104,171 shares of the coffee company’s stock after purchasing an additional 28,103 shares during the quarter. Quantinno Capital Management LP’s holdings in Starbucks were worth $10,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. FMR LLC increased its stake in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Fisher Asset Management LLC increased its stake in Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. Legal & General Group Plc increased its stake in Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares in the last quarter. Van ECK Associates Corp increased its stake in Starbucks by 108.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after purchasing an additional 2,324,847 shares in the last quarter. Finally, Swiss National Bank increased its stake in Starbucks by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after purchasing an additional 9,900 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by insiders.

Starbucks Price Performance

Shares of SBUX opened at $99.23 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The stock has a market cap of $112.51 billion, a PE ratio of 29.98, a P/E/G ratio of 2.97 and a beta of 0.97. The firm has a 50-day simple moving average of $98.03 and a two-hundred day simple moving average of $88.61.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the firm posted $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.46%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. UBS Group upped their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Wedbush dropped their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Three 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 given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Company 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.