Leisure Capital Management Grows Position in Starbucks Co. (SBUX)

Leisure Capital Management increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 13.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,743 shares of the coffee company’s stock after acquiring an additional 1,474 shares during the quarter. Leisure Capital Management’s holdings in Starbucks were worth $724,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Kavar Capital Partners LLC bought a new position in Starbucks in the third quarter worth about $3,430,000. B & T Capital Management DBA Alpha Capital Management raised its holdings in Starbucks by 3.7% in the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 45,349 shares of the coffee company’s stock worth $2,578,000 after purchasing an additional 1,605 shares in the last quarter. Trillium Asset Management LLC raised its holdings in Starbucks by 0.7% in the third quarter. Trillium Asset Management LLC now owns 419,987 shares of the coffee company’s stock worth $23,872,000 after purchasing an additional 3,032 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Starbucks in the third quarter worth about $224,000. Finally, Northeast Financial Consultants Inc bought a new position in Starbucks in the third quarter worth about $656,000. 71.14% of the stock is owned by institutional investors.

In related news, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction that occurred 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 transaction, the director now owns 29,000 shares in the company, valued at approximately $1,596,450. The sale was disclosed in a filing with the SEC, which is available through this link. 3.40% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:SBUX opened at $65.70 on Friday. Starbucks Co. has a twelve month low of $47.37 and a twelve month high of $68.98. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.95 and a current ratio of 2.20. The company has a market capitalization of $82.83 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 1.87 and a beta of 0.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the company earned $0.55 EPS. Starbucks’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that Starbucks Co. will post 2.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.44 annualized dividend and a yield of 2.19%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.

SBUX has been the subject of a number of recent research reports. BidaskClub upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. KeyCorp reiterated a “buy” rating on shares of Starbucks in a report on Thursday, October 4th. Bank of America upped their price objective on shares of Starbucks from $57.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. ValuEngine upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Finally, UBS Group set a $72.00 price objective on shares of Starbucks and gave the company a “buy” rating in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $64.69.

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Starbucks 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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