Starbucks Co. (SBUX) Stake Lifted by Usca Ria LLC

Usca Ria LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 5.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 28,096 shares of the coffee company’s stock after purchasing an additional 1,366 shares during the period. Usca Ria LLC’s holdings in Starbucks were worth $1,597,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC lifted its position in shares of Starbucks by 7.7% in the 3rd quarter. Advisory Services Network LLC now owns 29,937 shares of the coffee company’s stock worth $1,702,000 after purchasing an additional 2,152 shares during the period. Commerce Bank lifted its position in shares of Starbucks by 6.6% in the 3rd quarter. Commerce Bank now owns 426,227 shares of the coffee company’s stock worth $24,227,000 after purchasing an additional 26,267 shares during the period. Torray LLC acquired a new position in shares of Starbucks in the 3rd quarter worth approximately $227,000. Pitcairn Co. lifted its position in shares of Starbucks by 228.7% in the 3rd quarter. Pitcairn Co. now owns 74,082 shares of the coffee company’s stock worth $4,211,000 after purchasing an additional 51,541 shares during the period. Finally, Tdam USA Inc. lifted its position in shares of Starbucks by 2.3% in the 3rd quarter. Tdam USA Inc. now owns 117,847 shares of the coffee company’s stock worth $6,216,000 after purchasing an additional 2,620 shares during the period. Hedge funds and other institutional investors own 71.77% of the company’s stock.

In other news, Director Myron E. Ullman III sold 99,166 shares of the company’s 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 completion of the sale, the director now owns 29,000 shares in the company, valued at approximately $1,596,450. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Javier G. Teruel sold 166,666 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $52.70, for a total transaction of $8,783,298.20. The disclosure for this sale can be found here. Insiders have sold a total of 280,832 shares of company stock valued at $15,052,087 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Shares of SBUX stock opened at $68.16 on Thursday. The firm has a market cap of $89.05 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 1.78 and a beta of 0.48. The company has a debt-to-equity ratio of 7.73, a current ratio of 2.20 and a quick ratio of 1.95. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $68.21.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $6.30 billion during the quarter, compared to analyst estimates of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. Starbucks’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. Analysts forecast that Starbucks Co. will post 2.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.44 dividend on an annualized basis and a yield of 2.11%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.

SBUX has been the topic of a number of research reports. Wedbush dropped their target price on shares of Starbucks from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Friday, July 27th. BMO Capital Markets boosted their target price on shares of Starbucks from $51.00 to $58.00 and gave the company a “market perform” rating in a research report on Friday, November 2nd. BidaskClub downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. UBS Group set a $72.00 target price on shares of Starbucks and gave the company a “buy” rating in a research report on Friday, November 2nd. Finally, Barclays dropped their target price on shares of Starbucks from $60.00 to $57.00 and set a “$51.15” rating on the stock in a research report on Wednesday, July 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $63.48.

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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.

Further Reading: S&P 500 Index

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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