Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 15.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 270,871 shares of the coffee company’s stock after buying an additional 36,940 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Starbucks were worth $15,396,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. grew its holdings in Starbucks by 0.6% during the 2nd quarter. BlackRock Inc. now owns 84,654,465 shares of the coffee company’s stock valued at $4,135,368,000 after buying an additional 477,124 shares in the last quarter. Morgan Stanley grew its holdings in Starbucks by 2.0% during the 2nd quarter. Morgan Stanley now owns 47,116,946 shares of the coffee company’s stock valued at $2,301,661,000 after buying an additional 928,175 shares in the last quarter. Magellan Asset Management Ltd grew its holdings in Starbucks by 5.2% during the 2nd quarter. Magellan Asset Management Ltd now owns 32,392,116 shares of the coffee company’s stock valued at $1,582,355,000 after buying an additional 1,613,187 shares in the last quarter. Polen Capital Management LLC grew its holdings in Starbucks by 0.5% during the 2nd quarter. Polen Capital Management LLC now owns 12,286,385 shares of the coffee company’s stock valued at $600,190,000 after buying an additional 56,588 shares in the last quarter. Finally, Parnassus Investments CA grew its holdings in Starbucks by 26.8% during the 2nd quarter. Parnassus Investments CA now owns 12,052,546 shares of the coffee company’s stock valued at $588,767,000 after buying an additional 2,543,697 shares in the last quarter. 71.86% of the stock is currently owned by institutional investors.
SBUX opened at $64.32 on Friday. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $65.68. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a market cap of $86.77 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Starbucks had a return on equity of 70.00% and a net margin of 18.28%. The company had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the business earned $0.55 EPS. Starbucks’s revenue was up 10.6% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 2.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.24%. Starbucks’s payout ratio is currently 59.50%.
A number of equities analysts have recently commented on SBUX shares. ValuEngine upgraded Starbucks from a “strong sell” rating to a “sell” rating in a report on Saturday, July 14th. Royal Bank of Canada dropped their target price on Starbucks to $58.00 and set an “outperform” rating for the company in a report on Monday, July 16th. They noted that the move was a valuation call. Telsey Advisory Group dropped their target price on Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, July 17th. Barclays dropped their target price on Starbucks from $60.00 to $57.00 and set a “$51.15” rating for the company in a report on Wednesday, July 18th. Finally, BMO Capital Markets set a $51.00 target price on Starbucks and gave the stock a “hold” rating in a report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eighteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $62.75.
In other Starbucks news, insider Rosalind G. Brewer acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was bought at an average price of $54.04 per share, for a total transaction of $270,200.00. Following the acquisition, the insider now directly owns 7,302 shares in the company, valued at $394,600.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 99,166 shares of Starbucks stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,832 shares of company stock valued at $15,052,087. 3.40% of the stock is owned by company insiders.
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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