Close Asset Management Ltd Has $11.71 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Close Asset Management Ltd lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 13.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 139,711 shares of the coffee company’s stock after buying an additional 16,380 shares during the period. Starbucks comprises about 0.9% of Close Asset Management Ltd’s portfolio, making the stock its 18th biggest holding. Close Asset Management Ltd’s holdings in Starbucks were worth $11,711,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Abbrea Capital LLC boosted its position in shares of Starbucks by 1.9% during the 2nd quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock valued at $463,000 after purchasing an additional 105 shares in the last quarter. Duncker Streett & Co. Inc. raised its stake in Starbucks by 0.4% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock worth $2,528,000 after buying an additional 120 shares during the period. D.B. Root & Company LLC raised its stake in Starbucks by 0.8% during the 2nd quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock worth $1,251,000 after buying an additional 122 shares during the period. Grove Bank & Trust raised its stake in shares of Starbucks by 3.0% in the second quarter. Grove Bank & Trust now owns 4,373 shares of the coffee company’s stock worth $367,000 after purchasing an additional 128 shares during the last quarter. Finally, Community Bank N.A. raised its stake in shares of Starbucks by 2.1% in the first quarter. Community Bank N.A. now owns 6,783 shares of the coffee company’s stock worth $504,000 after purchasing an additional 140 shares during the last quarter. 72.54% of the stock is owned by institutional investors.

SBUX has been the subject of several analyst reports. Citigroup initiated coverage on Starbucks in a research note on Wednesday, June 26th. They issued a “buy” rating and a $83.65 price objective for the company. OTR Global raised Starbucks to a “positive” rating in a research note on Tuesday, July 16th. Goldman Sachs Group initiated coverage on Starbucks in a research note on Monday, July 29th. They issued a “buy” rating and a $110.00 price objective for the company. Credit Suisse Group initiated coverage on Starbucks in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $92.00 price objective for the company. Finally, KeyCorp increased their price objective on Starbucks from $84.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $89.53.

In other news, CAO Jill Walker sold 6,492 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total value of $621,284.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 9,973 shares of Starbucks stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $95.00, for a total value of $947,435.00. Following the sale, the director now directly owns 28,390 shares of the company’s stock, valued at approximately $2,697,050. The disclosure for this sale can be found here. Insiders sold 133,738 shares of company stock valued at $11,291,327 over the last ninety days. Corporate insiders own 3.98% of the company’s stock.

Shares of NASDAQ SBUX opened at $96.63 on Wednesday. The firm’s fifty day moving average price is $91.15. Starbucks Co. has a 1-year low of $51.79 and a 1-year high of $99.72. The company has a market capitalization of $113.28 billion, a price-to-earnings ratio of 39.93, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the company earned $0.62 earnings per share. Starbucks’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Co. will post 2.82 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s payout ratio is currently 59.50%.

Starbucks 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Read More: Leveraged Buyout (LBO)

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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