Homrich & Berg Takes Position in Starbucks Co. (SBUX)

Homrich & Berg purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,738 shares of the coffee company’s stock, valued at approximately $1,122,000.

A number of other hedge funds have also modified their holdings of the business. Meiji Yasuda Life Insurance Co increased its holdings in shares of Starbucks by 1.8% in the third quarter. Meiji Yasuda Life Insurance Co now owns 42,724 shares of the coffee company’s stock valued at $2,429,000 after purchasing an additional 743 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Starbucks by 2.2% in the third quarter. Wesbanco Bank Inc. now owns 39,557 shares of the coffee company’s stock valued at $2,249,000 after purchasing an additional 868 shares during the last quarter. Radnor Capital Management LLC increased its holdings in shares of Starbucks by 8.7% in the third quarter. Radnor Capital Management LLC now owns 11,264 shares of the coffee company’s stock valued at $640,000 after purchasing an additional 900 shares during the last quarter. Mercer Capital Advisers Inc. increased its holdings in shares of Starbucks by 5.4% in the third quarter. Mercer Capital Advisers Inc. now owns 18,550 shares of the coffee company’s stock valued at $1,054,000 after purchasing an additional 950 shares during the last quarter. Finally, DDD Partners LLC increased its holdings in shares of Starbucks by 13.3% in the second quarter. DDD Partners LLC now owns 8,317 shares of the coffee company’s stock valued at $406,000 after purchasing an additional 975 shares during the last quarter. Institutional investors own 71.14% of the company’s stock.

In other news, Director Myron E. Ullman III sold 99,166 shares of Starbucks stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total value of $5,459,088.30. Following the completion of 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 available at this link. Insiders own 3.40% of the company’s stock.

SBUX stock opened at $66.72 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.20 and a debt-to-equity ratio of 7.73. The firm has a market cap of $82.97 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 1.87 and a beta of 0.48. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $68.98.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a $0.36 dividend. The ex-dividend date was Wednesday, November 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.16%. Starbucks’s payout ratio is presently 59.50%.

Several research firms recently commented on SBUX. Bank of America increased their price target on Starbucks from $57.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Royal Bank of Canada increased their price target on Starbucks to $68.00 and gave the company a “positive” rating in a report on Friday, November 2nd. Piper Jaffray Companies cut Starbucks from an “overweight” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Tuesday, August 21st. BidaskClub cut Starbucks from a “strong-buy” rating to a “buy” rating in a report on Friday, November 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price target on shares of Starbucks in a report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.05.

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About Starbucks

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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