Marshall Wace LLP increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 36.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 523,834 shares of the coffee company’s stock after acquiring an additional 140,634 shares during the quarter. Marshall Wace LLP’s holdings in Starbucks were worth $29,775,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Starbucks by 6.8% during the 3rd quarter. BlackRock Inc. now owns 90,368,884 shares of the coffee company’s stock worth $5,136,569,000 after acquiring an additional 5,714,419 shares in the last quarter. Morgan Stanley raised its stake in shares of Starbucks by 4.8% during the 3rd quarter. Morgan Stanley now owns 49,371,647 shares of the coffee company’s stock worth $2,806,283,000 after acquiring an additional 2,254,701 shares in the last quarter. Magellan Asset Management Ltd grew its position in Starbucks by 17.5% during the 3rd quarter. Magellan Asset Management Ltd now owns 38,067,340 shares of the coffee company’s stock worth $2,163,748,000 after purchasing an additional 5,675,224 shares during the last quarter. Polen Capital Management LLC grew its position in Starbucks by 46.8% during the 3rd quarter. Polen Capital Management LLC now owns 18,035,326 shares of the coffee company’s stock worth $1,025,128,000 after purchasing an additional 5,748,941 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Starbucks by 3.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 17,386,957 shares of the coffee company’s stock worth $988,275,000 after purchasing an additional 596,415 shares during the last quarter. Hedge funds and other institutional investors own 76.07% of the company’s stock.
In related news, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the sale, the director now directly owns 29,000 shares of the company’s stock, valued at $1,596,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.40% of the company’s stock.
Several analysts have weighed in on the stock. BidaskClub raised shares of Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 13th. Jefferies Financial Group reissued a “buy” rating and set a $76.00 target price on shares of Starbucks in a research report on Friday, November 30th. They noted that the move was a valuation call. Piper Jaffray Companies boosted their target price on shares of Starbucks from $53.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. Telsey Advisory Group reissued a “market perform” rating and set a $70.00 target price (up previously from $66.00) on shares of Starbucks in a research report on Monday, December 3rd. Finally, Royal Bank of Canada boosted their target price on shares of Starbucks to $68.00 and gave the stock a “positive” rating in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks has a consensus rating of “Buy” and a consensus target price of $65.34.
SBUX stock opened at $65.47 on Friday. The firm has a market capitalization of $82.56 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.86 and a beta of 0.52. The company has a current ratio of 2.20, a quick ratio of 1.95 and a debt-to-equity ratio of 7.73. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $68.98.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. On average, research analysts expect that Starbucks Co. will post 2.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Wednesday, November 14th. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.
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Starbucks Company 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.
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