Fagan Associates Inc. Has $3.74 Million Position in Starbucks (SBUX)

Fagan Associates Inc. lowered its holdings in Starbucks (NASDAQ:SBUX) by 15.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,679 shares of the coffee company’s stock after selling 12,043 shares during the period. Starbucks comprises 1.6% of Fagan Associates Inc.’s portfolio, making the stock its 19th largest position. Fagan Associates Inc.’s holdings in Starbucks were worth $3,744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Magellan Asset Management Ltd lifted its holdings in Starbucks by 18.1% during the 4th quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock worth $1,775,321,000 after buying an additional 4,744,675 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Starbucks by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 30,728,508 shares of the coffee company’s stock worth $1,764,739,000 after buying an additional 1,210,393 shares during the last quarter. Capital International Investors lifted its holdings in Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after buying an additional 4,696,452 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Starbucks by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 17,008,111 shares of the coffee company’s stock worth $974,952,000 after buying an additional 319,533 shares during the last quarter. Finally, Polen Capital Management LLC lifted its holdings in Starbucks by 1.1% during the 4th quarter. Polen Capital Management LLC now owns 11,873,272 shares of the coffee company’s stock worth $681,882,000 after buying an additional 124,676 shares during the last quarter. 72.38% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the transaction, the director now directly owns 26,500 shares in the company, valued at approximately $1,592,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.48% of the stock is currently owned by company insiders.

A number of research firms have commented on SBUX. BidaskClub downgraded Starbucks from a “buy” rating to a “hold” rating in a report on Saturday, May 5th. ValuEngine downgraded Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. Oppenheimer reaffirmed an “outperform” rating on shares of Starbucks in a report on Friday, April 27th. Wedbush reaffirmed a “hold” rating and set a $58.00 target price on shares of Starbucks in a report on Friday, April 27th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Starbucks in a report on Friday, April 27th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Starbucks has a consensus rating of “Buy” and a consensus target price of $64.25.

Shares of Starbucks opened at $57.16 on Monday, Marketbeat.com reports. Starbucks has a 1 year low of $52.58 and a 1 year high of $64.87. The firm has a market cap of $78.88 billion, a PE ratio of 25.07, a PEG ratio of 1.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.83 and a current ratio of 1.09.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. Starbucks had a return on equity of 60.33% and a net margin of 18.71%. The company had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. research analysts expect that Starbucks will post 2.49 earnings per share for the current year.

Starbucks declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 26th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the coffee company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 10th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, May 9th. Starbucks’s dividend payout ratio (DPR) is presently 58.25%.

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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