RNC Capital Management LLC Grows Holdings in Starbucks Co. (SBUX)

RNC Capital Management LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 18.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,452 shares of the coffee company’s stock after acquiring an additional 2,353 shares during the quarter. RNC Capital Management LLC’s holdings in Starbucks were worth $878,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Natixis bought a new stake in Starbucks in the second quarter valued at about $36,083,000. Commerzbank Aktiengesellschaft FI increased its holdings in Starbucks by 115.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 697,709 shares of the coffee company’s stock valued at $34,083,000 after buying an additional 373,651 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Starbucks in the second quarter valued at about $115,000. MAI Capital Management increased its holdings in Starbucks by 14.9% in the second quarter. MAI Capital Management now owns 20,472 shares of the coffee company’s stock valued at $1,000,000 after buying an additional 2,650 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its holdings in Starbucks by 8.8% in the third quarter. Nikko Asset Management Americas Inc. now owns 878,442 shares of the coffee company’s stock valued at $49,281,000 after buying an additional 71,411 shares during the last quarter. 71.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of SBUX stock opened at $58.07 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.01 and a quick ratio of 0.76. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $61.94. The company has a market capitalization of $78.34 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 1.58 and a beta of 0.60.



Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, July 26th. The coffee company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Starbucks had a return on equity of 67.11% and a net margin of 18.87%. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. Starbucks’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Starbucks Co. will post 2.4 earnings per share for the current fiscal year.

Several brokerages recently weighed in on SBUX. BMO Capital Markets set a $51.00 price objective on Starbucks and gave the company a “hold” rating in a report on Monday, July 23rd. Barclays lowered their price objective on Starbucks from $60.00 to $57.00 and set a “$51.15” rating for the company in a report on Wednesday, July 18th. Telsey Advisory Group lowered their price objective on Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, July 17th. ValuEngine raised Starbucks from a “hold” rating to a “buy” rating in a report on Friday. Finally, Wedbush lowered their price objective on Starbucks from $54.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $60.48.

In other news, Director Javier G. Teruel sold 166,666 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $52.70, for a total transaction of $8,783,298.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Myron E. Ullman III sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $52.13, for a total value of $781,950.00. Following the transaction, the director now owns 29,000 shares of the company’s stock, valued at $1,511,770. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,832 shares of company stock valued at $15,834,037. Insiders own 3.40% of the company’s stock.

Starbucks Company 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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