Cambria Investment Management L.P. Buys New Holdings in Starbucks Co. (NASDAQ:SBUX)

Cambria Investment Management L.P. acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 31,324 shares of the coffee company’s stock, valued at approximately $1,827,000.

Other large investors have also recently bought and sold shares of the company. Appropriate Balance Financial Services Inc. lifted its position in shares of Starbucks by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after purchasing an additional 13 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of Starbucks by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares during the last quarter. Gradient Investments LLC lifted its position in shares of Starbucks by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares during the last quarter. IHT Wealth Management LLC lifted its position in shares of Starbucks by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares during the last quarter. 70.67% of the stock is owned by institutional investors.

Several brokerages have recently commented on SBUX. Tigress Financial began coverage on shares of Starbucks in a research report on Wednesday. They set a “buy” rating on the stock. Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 price target on the stock. in a research report on Monday, November 27th. UBS Group set a $64.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Finally, Morgan Stanley increased their price target on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $63.26.

In related news, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the transaction, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock worth $28,559,521 in the last quarter. Company insiders own 3.40% of the company’s stock.

Shares of Starbucks Co. (NASDAQ:SBUX) traded down $0.38 during trading hours on Friday, hitting $57.43. 5,364,245 shares of the company’s stock traded hands, compared to its average volume of 8,490,316. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87. The firm has a market capitalization of $82,252.07, a price-to-earnings ratio of 29.15, a P/E/G ratio of 1.58 and a beta of 0.75. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the business earned $0.56 earnings per share. Starbucks’s revenue was down .2% compared to the same quarter last year. sell-side analysts anticipate that Starbucks Co. will post 2.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is currently 60.91%.

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Starbucks Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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