Starbucks Co. (SBUX) Position Decreased by American Century Companies Inc.

American Century Companies Inc. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 45.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,961,118 shares of the coffee company’s stock after selling 2,489,060 shares during the period. American Century Companies Inc. owned 0.22% of Starbucks worth $168,310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Parnassus Investments CA lifted its position in shares of Starbucks by 26.8% during the second quarter. Parnassus Investments CA now owns 12,052,546 shares of the coffee company’s stock valued at $588,767,000 after purchasing an additional 2,543,697 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in shares of Starbucks during the second quarter valued at about $105,420,000. Magellan Asset Management Ltd lifted its position in shares of Starbucks by 5.2% during the second quarter. Magellan Asset Management Ltd now owns 32,392,116 shares of the coffee company’s stock valued at $1,582,355,000 after purchasing an additional 1,613,187 shares in the last quarter. Fiera Capital Corp lifted its position in shares of Starbucks by 3,492.3% during the second quarter. Fiera Capital Corp now owns 1,274,578 shares of the coffee company’s stock valued at $62,262,000 after purchasing an additional 1,239,097 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Starbucks by 2.0% during the second quarter. Morgan Stanley now owns 47,116,946 shares of the coffee company’s stock valued at $2,301,661,000 after purchasing an additional 928,175 shares in the last quarter. 71.77% of the stock is currently owned by institutional investors.

In other Starbucks news, insider Rosalind G. Brewer purchased 5,000 shares of the stock in a transaction dated Monday, August 20th. The shares were bought at an average price of $54.04 per share, with a total value of $270,200.00. Following the completion of the transaction, the insider now directly owns 7,302 shares in the company, valued at approximately $394,600.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Javier G. Teruel sold 166,666 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $52.70, for a total transaction of $8,783,298.20. The disclosure for this sale can be found here. In the last three months, insiders sold 280,832 shares of company stock worth $15,052,087. Insiders own 3.40% of the company’s stock.

NASDAQ SBUX opened at $68.60 on Friday. Starbucks Co. has a 12-month low of $47.37 and a 12-month high of $68.98. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.95 and a current ratio of 2.20. The company has a market capitalization of $89.05 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.78 and a beta of 0.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts predict that Starbucks Co. will post 2.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.

SBUX has been the topic of a number of recent analyst reports. Wells Fargo & Co raised their price target on shares of Starbucks from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. KeyCorp reissued a “buy” rating on shares of Starbucks in a research report on Thursday, October 4th. BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Finally, ValuEngine raised shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $63.48.

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Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Further Reading: Technical Analysis

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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