Rydar Equities Inc. Invests $1.28 Million in Starbucks Corporation $SBUX

Rydar Equities Inc. acquired a new stake in Starbucks Corporation (NASDAQ:SBUX) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 13,952 shares of the coffee company’s stock, valued at approximately $1,278,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Norges Bank bought a new position in shares of Starbucks during the 2nd quarter valued at about $1,246,316,000. Corient Private Wealth LLC raised its holdings in Starbucks by 146.6% during the 2nd quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock worth $553,201,000 after buying an additional 3,596,014 shares during the period. Wellington Management Group LLP lifted its stake in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after buying an additional 3,545,655 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Starbucks by 11.2% in the second quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock valued at $1,169,011,000 after buying an additional 1,286,451 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Starbucks by 68.0% during the second quarter. California Public Employees Retirement System now owns 3,027,814 shares of the coffee company’s stock worth $277,439,000 after acquiring an additional 1,225,447 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBUX. TD Cowen reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Starbucks in a research report on Monday, December 1st. Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Barclays reduced their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 8th. Finally, Morgan Stanley set a $105.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Stock Up 0.7%

SBUX opened at $85.35 on Monday. The stock has a market cap of $97.05 billion, a price-to-earnings ratio of 52.04, a PEG ratio of 1.74 and a beta of 0.98. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The business has a 50 day moving average of $84.00 and a 200-day moving average of $87.69.

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

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s dividend payout ratio is currently 151.22%.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the business’s stock in a transaction on Monday, November 10th. The stock was purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the transaction, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. The trade was a 28.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by company insiders.

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.