Tudor Financial Inc. Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Tudor Financial Inc. acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,865 shares of the coffee company's stock, valued at approximately $1,352,000.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC increased its stake in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company's stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Marshall Wace LLP increased its stake in Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company's stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in Starbucks in the 2nd quarter worth approximately $243,910,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company's stock worth $248,153,000 after purchasing an additional 2,329,431 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.

Starbucks Price Performance

SBUX stock opened at $98.42 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The business has a fifty day moving average price of $98.17 and a 200-day moving average price of $89.25. The stock has a market capitalization of $111.59 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.94 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts' consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.48%. Starbucks's dividend payout ratio (DPR) is presently 73.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SBUX. Wells Fargo & Company lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. TD Cowen reiterated a "buy" rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Wedbush cut their price objective on Starbucks from $98.00 to $95.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. UBS Group lifted their price objective on Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Finally, BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.77.

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.

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