First Manhattan Co. Raises Holdings in Starbucks Co. (SBUX)

First Manhattan Co. grew its position in Starbucks Co. (NASDAQ:SBUX) by 29.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,449 shares of the coffee company’s stock after buying an additional 6,268 shares during the quarter. First Manhattan Co.’s holdings in Starbucks were worth $1,576,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Ken Stern & Associates Inc. lifted its holdings in shares of Starbucks by 0.4% in the 2nd quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after buying an additional 23 shares during the period. Spectrum Management Group Inc. lifted its stake in shares of Starbucks by 0.3% during the 2nd quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock worth $620,000 after purchasing an additional 30 shares during the last quarter. Risk Paradigm Group LLC lifted its stake in shares of Starbucks by 0.7% during the 2nd quarter. Risk Paradigm Group LLC now owns 7,470 shares of the coffee company’s stock worth $436,000 after purchasing an additional 50 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Starbucks by 0.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 7,657 shares of the coffee company’s stock worth $446,000 after purchasing an additional 64 shares during the last quarter. Finally, South Texas Money Management Ltd. lifted its stake in shares of Starbucks by 0.3% during the 2nd quarter. South Texas Money Management Ltd. now owns 23,826 shares of the coffee company’s stock worth $1,389,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 71.87% of the company’s stock.

Starbucks Co. (NASDAQ SBUX) opened at $56.10 on Thursday. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87. The stock has a market capitalization of $78,850.00, a PE ratio of 18.83, a P/E/G ratio of 1.56 and a beta of 0.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. equities analysts predict that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Wednesday, February 7th. Starbucks’s dividend payout ratio is presently 40.27%.

A number of brokerages recently weighed in on SBUX. Wedbush restated a “buy” rating and set a $70.00 price objective on shares of Starbucks in a research note on Monday, January 22nd. They noted that the move was a valuation call. Oppenheimer restated a “buy” rating and set a $66.00 price objective on shares of Starbucks in a research note on Friday, January 19th. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price objective (up from $66.00) on shares of Starbucks in a research note on Friday, January 19th. Barclays restated an “equal weight” rating and set a $65.00 price objective (up from $58.00) on shares of Starbucks in a research note on Tuesday, January 16th. Finally, Goldman Sachs Group cut Starbucks from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the stock from $73.00 to $68.00 in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $64.63.

In other news, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Clifford Burrows sold 162,826 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the transaction, the insider now directly owns 331,829 shares in the company, valued at $18,920,889.58. The disclosure for this sale can be found here. Insiders sold 247,826 shares of company stock worth $14,213,139 over the last three months. Corporate insiders own 3.48% of the company’s stock.

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Starbucks Company 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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