USS Investment Management Ltd Takes $28.56 Million Position in Starbucks Co. (NASDAQ:SBUX)

USS Investment Management Ltd acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 340,700 shares of the coffee company’s stock, valued at approximately $28,559,000.

Several other institutional investors have also bought and sold shares of SBUX. Paragon Capital Management LLC purchased a new stake in shares of Starbucks during the first quarter worth approximately $29,000. Lake Point Wealth Management purchased a new stake in shares of Starbucks during the fourth quarter worth approximately $25,000. C J Advisory Inc purchased a new stake in shares of Starbucks during the first quarter worth approximately $34,000. Thor Advisors LLC purchased a new stake in shares of Starbucks during the first quarter worth approximately $61,000. Finally, Somerset Trust Co increased its position in shares of Starbucks by 159.2% during the first quarter. Somerset Trust Co now owns 819 shares of the coffee company’s stock worth $61,000 after purchasing an additional 503 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Shares of Starbucks stock traded down $2.16 during trading hours on Wednesday, hitting $94.49. The company’s stock had a trading volume of 5,239,326 shares, compared to its average volume of 6,883,923. Starbucks Co. has a twelve month low of $51.19 and a twelve month high of $99.72. The company’s fifty day simple moving average is $87.80. The company has a market cap of $117.06 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 2.73 and a beta of 0.55.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 154.96% and a net margin of 13.63%. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 2.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, August 8th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s payout ratio is 59.50%.

In related news, insider John Culver sold 63,937 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $84.64, for a total value of $844,114.72. Following the transaction, the director now directly owns 28,390 shares in the company, valued at approximately $2,402,929.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,883 shares of company stock worth $7,422,903. 3.98% of the stock is owned by corporate insiders.

Several analysts recently commented on SBUX shares. UBS Group boosted their price target on Starbucks from $78.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday. BidaskClub upgraded Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Wells Fargo & Co cut Starbucks from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $83.00 to $80.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price objective on Starbucks from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Wedbush boosted their price objective on Starbucks from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Starbucks presently has a consensus rating of “Buy” and an average target price of $89.53.

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 beverages, iced tea, 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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