Starbucks Corporation (SBUX) Stake Boosted by Colony Group LLC

Colony Group LLC lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 792.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,927 shares of the coffee company’s stock after purchasing an additional 31,903 shares during the quarter. Colony Group LLC’s holdings in Starbucks were worth $2,095,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Magellan Asset Management Ltd lifted its holdings in shares of Starbucks by 3,809,645.9% during the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after acquiring an additional 18,667,265 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Starbucks by 3,076.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after acquiring an additional 13,452,551 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Starbucks by 539.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after acquiring an additional 3,305,700 shares during the period. Vanguard Group Inc. raised its holdings in Starbucks by 2.1% in the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after buying an additional 1,953,003 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Starbucks by 3,007.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock valued at $111,069,000 after buying an additional 1,843,500 shares during the period. 71.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of Starbucks Corporation (SBUX) opened at $59.27 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $83,970.00, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76. Starbucks Corporation has a one year low of $52.58 and a one year high of $64.87.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the business earned $0.56 earnings per share. The company’s revenue was down .2% on a year-over-year basis. equities research analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were paid a dividend of $0.30 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Wednesday, November 15th. Starbucks’s payout ratio is currently 60.91%.

In related news, Director Craig Weatherup sold 56,666 shares of Starbucks stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by company insiders.

Several research analysts recently commented on the stock. Stephens restated an “equal weight” rating and issued a $52.00 price target (down previously from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. Cleveland Research lowered shares of Starbucks from a “buy” rating to a “neutral” rating in a report on Wednesday, August 23rd. Credit Suisse Group cut their price target on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. BMO Capital Markets restated a “hold” rating on shares of Starbucks in a report on Thursday, October 5th. Finally, Zacks Investment Research upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $63.26.

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About Starbucks

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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