Starbucks Co. (SBUX) is PARK CIRCLE Co’s 3rd Largest Position

PARK CIRCLE Co trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 26.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 196,600 shares of the coffee company’s stock after selling 70,000 shares during the quarter. Starbucks accounts for 7.0% of PARK CIRCLE Co’s portfolio, making the stock its 3rd biggest position. PARK CIRCLE Co’s holdings in Starbucks were worth $11,175,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Radnor Capital Management LLC increased its stake in Starbucks by 8.7% during the 3rd quarter. Radnor Capital Management LLC now owns 11,264 shares of the coffee company’s stock valued at $640,000 after purchasing an additional 900 shares in the last quarter. Mercer Capital Advisers Inc. increased its stake in Starbucks by 5.4% during the 3rd quarter. Mercer Capital Advisers Inc. now owns 18,550 shares of the coffee company’s stock valued at $1,054,000 after purchasing an additional 950 shares in the last quarter. DDD Partners LLC increased its stake in Starbucks by 13.3% during the 2nd quarter. DDD Partners LLC now owns 8,317 shares of the coffee company’s stock valued at $406,000 after purchasing an additional 975 shares in the last quarter. Rathbone Brothers plc increased its stake in Starbucks by 10.0% during the 3rd quarter. Rathbone Brothers plc now owns 10,953 shares of the coffee company’s stock valued at $623,000 after purchasing an additional 999 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in Starbucks by 52.5% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,941 shares of the coffee company’s stock valued at $144,000 after purchasing an additional 1,013 shares in the last quarter. 71.14% of the stock is owned by hedge funds and other institutional investors.

Shares of SBUX stock opened at $65.70 on Friday. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $68.98. The company has a market capitalization of $81.51 billion, a PE ratio of 27.15, a P/E/G ratio of 1.84 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 (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm 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%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 2.65 EPS 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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Wednesday, November 14th. Starbucks’s payout ratio is 59.50%.

A number of analysts have weighed in on SBUX shares. Zacks Investment Research restated a “buy” rating and set a $66.00 price objective on shares of Starbucks in a research note on Thursday, November 15th. BMO Capital Markets raised their price objective on shares of Starbucks from $51.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday, November 2nd. BidaskClub lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. UBS Group set a $72.00 price objective on shares of Starbucks and gave the company a “buy” rating in a research note on Friday, November 2nd. Finally, Citigroup raised their price objective on shares of Starbucks from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, November 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.69.

In related news, Director Myron E. Ullman III sold 99,166 shares of the firm’s 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 of the company’s stock, valued at $1,596,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.40% of the company’s stock.

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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: Growth Stocks

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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