Handelsbanken Fonder AB Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Handelsbanken Fonder AB raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,560 shares of the coffee company’s stock after acquiring an additional 16,462 shares during the period. Handelsbanken Fonder AB’s holdings in Starbucks were worth $46,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Starbucks by 124.2% during the 3rd quarter. Nordea Investment Management AB now owns 7,923,711 shares of the coffee company’s stock worth $884,920,000 after buying an additional 4,390,109 shares in the last quarter. Amundi purchased a new stake in shares of Starbucks during the 2nd quarter worth $416,728,000. Price T Rowe Associates Inc. MD raised its stake in Starbucks by 15.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,407,536 shares of the coffee company’s stock valued at $1,499,096,000 after buying an additional 1,822,190 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Starbucks by 22.3% in the second quarter. Nuveen Asset Management LLC now owns 7,255,973 shares of the coffee company’s stock valued at $811,291,000 after buying an additional 1,324,776 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Starbucks by 85.4% in the second quarter. Prudential Financial Inc. now owns 2,703,256 shares of the coffee company’s stock valued at $302,250,000 after buying an additional 1,245,561 shares during the last quarter. Institutional investors own 68.26% of the company’s stock.

Shares of NASDAQ SBUX traded down $1.51 during midday trading on Friday, reaching $100.89. The stock had a trading volume of 144,296 shares, compared to its average volume of 9,230,075. The firm has a market cap of $118.36 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.52 and a beta of 0.83. Starbucks Co. has a twelve month low of $95.92 and a twelve month high of $126.32. The company’s 50 day moving average price is $112.28 and its 200 day moving average price is $114.45.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, October 28th. The coffee company reported $1.00 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.00. Starbucks had a net margin of 14.45% and a negative return on equity of 55.34%. The company had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter in the previous year, the company earned $0.51 EPS. Starbucks’s quarterly revenue was up 30.6% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 3.45 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 25th. Shareholders of record on Friday, February 11th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, February 10th. This represents a $1.96 annualized dividend and a yield of 1.94%. Starbucks’s payout ratio is 55.21%.

Several analysts recently commented on the company. Oppenheimer lowered Starbucks from an “outperform” rating to a “market perform” rating in a report on Friday, January 7th. BMO Capital Markets dropped their price objective on Starbucks from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. Wells Fargo & Company lowered their price target on Starbucks from $135.00 to $122.00 and set an “overweight” rating on the stock in a research note on Friday, October 29th. Stifel Nicolaus lowered Starbucks from a “buy” rating to a “hold” rating and lowered their price target for the stock from $130.00 to $112.00 in a research note on Friday, October 29th. Finally, Argus downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, November 4th. Twelve analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Buy” and a consensus target price of $123.64.

In related news, insider Michael Aaron Conway sold 47,088 shares of the stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $111.50, for a total transaction of $5,250,312.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin R. Johnson sold 250,000 shares of the stock in a transaction dated Wednesday, December 8th. The shares were sold at an average price of $116.09, for a total transaction of $29,022,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 307,118 shares of company stock worth $35,431,134. Corporate insiders own 0.36% of the company’s stock.

Starbucks Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America; International; and Channel Development. The North America and International segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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