Pacer Advisors Inc. Has $13.60 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Pacer Advisors Inc. increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,527 shares of the coffee company’s stock after acquiring an additional 5,397 shares during the period. Pacer Advisors Inc.’s holdings in Starbucks were worth $13,602,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Dakota Wealth Management lifted its holdings in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. lifted its stake in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares in the last quarter. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after acquiring an additional 7,596 shares during the last quarter. Aljian Capital Management LLC grew its stake in shares of Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after acquiring an additional 9,936 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Starbucks by 0.3% in the third 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 during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Stifel Nicolaus boosted their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Performance

SBUX stock opened at $102.50 on Friday. The company has a market capitalization of $116.21 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.90 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $103.60. The company’s 50 day moving average price is $97.11 and its two-hundred day moving average price is $87.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the company earned $1.06 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.38%. Starbucks’s dividend payout ratio is currently 73.72%.

Starbucks 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.