Blue Edge Capital LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Blue Edge Capital LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 32,851 shares of the coffee company’s stock after acquiring an additional 814 shares during the quarter. Blue Edge Capital LLC’s holdings in Starbucks were worth $3,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of Starbucks by 1.3% during the 4th quarter. FMR LLC now owns 20,416,742 shares of the coffee company’s stock valued at $2,184,183,000 after purchasing an additional 259,981 shares during the last quarter. Polen Capital Management LLC lifted its position in shares of Starbucks by 1.8% during the 1st quarter. Polen Capital Management LLC now owns 14,048,204 shares of the coffee company’s stock valued at $1,535,047,000 after buying an additional 245,298 shares in the last quarter. Morgan Stanley grew its stake in shares of Starbucks by 6.9% during the 4th quarter. Morgan Stanley now owns 13,603,582 shares of the coffee company’s stock valued at $1,455,309,000 after acquiring an additional 881,073 shares during the period. Wells Fargo & Company MN increased its holdings in Starbucks by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 11,750,720 shares of the coffee company’s stock worth $1,257,092,000 after acquiring an additional 230,070 shares in the last quarter. Finally, Norges Bank purchased a new position in Starbucks during the fourth quarter valued at approximately $1,244,400,000. Institutional investors own 68.65% of the company’s stock.

Starbucks stock traded up $0.59 during mid-day trading on Friday, reaching $112.80. 28,660 shares of the company were exchanged, compared to its average volume of 6,173,307. The firm has a market cap of $132.80 billion, a price-to-earnings ratio of 133.67, a P/E/G ratio of 3.15 and a beta of 0.88. Starbucks Co. has a 12-month low of $71.06 and a 12-month high of $118.98. The firm’s fifty day moving average is $113.42.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Monday, April 26th. The coffee company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.10. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.75 billion. Starbucks had a negative return on equity of 18.94% and a net margin of 4.18%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Equities research analysts predict that Starbucks Co. will post 2.98 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Thursday, May 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, May 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. Starbucks’s payout ratio is 153.85%.

In other news, CEO Kevin R. Johnson sold 170,000 shares of the firm’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $111.07, for a total value of $18,881,900.00. Following the completion of the transaction, the chief executive officer now directly owns 515,934 shares in the company, valued at $57,304,789.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Rachel A. Gonzalez sold 82,894 shares of Starbucks stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $109.50, for a total value of $9,076,893.00. Following the sale, the executive vice president now directly owns 78,905 shares of the company’s stock, valued at approximately $8,640,097.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 406,184 shares of company stock valued at $44,685,798. Corporate insiders own 0.36% of the company’s stock.

Several brokerages recently weighed in on SBUX. MKM Partners upped their target price on shares of Starbucks from $105.00 to $117.00 in a report on Thursday, April 22nd. Oppenheimer lifted their target price on Starbucks from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, April 19th. Credit Suisse Group upped their price target on Starbucks from $116.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Stifel Nicolaus boosted their target price on shares of Starbucks from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Monday, April 26th. Finally, Cowen raised their target price on shares of Starbucks from $120.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $120.80.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; 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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