Starbucks Co. (SBUX) Position Lifted by Meyer Handelman Co.

Meyer Handelman Co. lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 9.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,944 shares of the coffee company’s stock after acquiring an additional 6,044 shares during the period. Meyer Handelman Co.’s holdings in Starbucks were worth $3,649,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SBUX. Magellan Asset Management Ltd grew its holdings in Starbucks by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after buying an additional 13,452,551 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Starbucks by 539.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after buying an additional 3,305,700 shares during the last quarter. Vanguard Group Inc. grew its holdings in Starbucks by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after buying an additional 1,953,003 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Starbucks by 3,007.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock valued at $111,069,000 after buying an additional 1,843,500 shares during the last quarter. 70.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of Starbucks Co. (NASDAQ:SBUX) opened at $57.30 on Friday. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The firm has a market capitalization of $81,924.83, a P/E ratio of 29.09, a PEG ratio of 1.57 and a beta of 0.75. The company has a current ratio of 1.25, a quick ratio of 0.93 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 Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. Starbucks’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 EPS. research analysts expect that Starbucks Co. will post 2.31 earnings per share for the current fiscal year.

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

SBUX has been the topic of a number of research analyst reports. Cowen reaffirmed a “buy” rating and issued a $63.00 target price on shares of Starbucks in a report on Friday, September 1st. Zacks Investment Research raised Starbucks from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Bank of America reaffirmed a “neutral” rating and issued a $65.00 target price on shares of Starbucks in a report on Thursday, September 14th. Stephens reaffirmed an “equal weight” rating and issued a $52.00 target price (down previously from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. Finally, Mizuho reaffirmed a “buy” rating and issued a $75.00 target price on shares of Starbucks in a report on Friday, September 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $63.26.

In related news, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Craig Weatherup sold 56,666 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the sale, the director now directly owns 56,666 shares in the company, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by insiders.

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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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