Halsey Associates Inc. CT Acquires 1,198 Shares of Starbucks Co. (SBUX)

Halsey Associates Inc. CT raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 224,492 shares of the coffee company’s stock after purchasing an additional 1,198 shares during the quarter. Starbucks comprises approximately 2.3% of Halsey Associates Inc. CT’s portfolio, making the stock its 18th largest holding. Halsey Associates Inc. CT’s holdings in Starbucks were worth $12,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Polen Capital Management LLC increased its stake in Starbucks by 46.8% in the third quarter. Polen Capital Management LLC now owns 18,035,326 shares of the coffee company’s stock valued at $1,025,128,000 after purchasing an additional 5,748,941 shares during the period. BlackRock Inc. increased its stake in Starbucks by 6.8% in the third quarter. BlackRock Inc. now owns 90,368,884 shares of the coffee company’s stock valued at $5,136,569,000 after purchasing an additional 5,714,419 shares during the period. Magellan Asset Management Ltd increased its stake in Starbucks by 17.5% in the third quarter. Magellan Asset Management Ltd now owns 38,067,340 shares of the coffee company’s stock valued at $2,163,748,000 after purchasing an additional 5,675,224 shares during the period. Capital World Investors increased its stake in Starbucks by 33.3% in the third quarter. Capital World Investors now owns 11,222,132 shares of the coffee company’s stock valued at $637,866,000 after purchasing an additional 2,805,225 shares during the period. Finally, Charles Schwab Investment Advisory Inc. acquired a new position in Starbucks in the second quarter valued at $105,420,000. Institutional investors own 76.07% of the company’s stock.

A number of research firms have commented on SBUX. Mizuho set a $75.00 price objective on shares of Starbucks and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their target price on shares of Starbucks to $74.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $73.00 target price (up previously from $66.00) on shares of Starbucks in a report on Friday. BMO Capital Markets lifted their target price on shares of Starbucks to $63.00 and gave the company a “market perform” rating in a report on Friday. They noted that the move was a valuation call. Finally, Bank of America set a $68.00 target price on shares of Starbucks and gave the company a “buy” rating in a report on Monday, December 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks has a consensus rating of “Buy” and an average target price of $66.23.

SBUX stock opened at $65.34 on Friday. The stock has a market cap of $81.06 billion, a P/E ratio of 27.00, a P/E/G ratio of 1.83 and a beta of 0.52. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $68.98. The company has a current ratio of 2.20, a quick ratio of 1.95 and a debt-to-equity ratio of 7.73.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, equities analysts predict that Starbucks Co. will post 2.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Wednesday, November 14th. Starbucks’s dividend payout ratio is currently 59.50%.

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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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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