Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Canton Hathaway LLC

Canton Hathaway LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,096 shares of the coffee company’s stock after purchasing an additional 838 shares during the quarter. Canton Hathaway LLC’s holdings in Starbucks were worth $1,886,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Bell Bank increased its position in Starbucks by 0.5% during the second quarter. Bell Bank now owns 15,838 shares of the coffee company’s stock worth $1,771,000 after buying an additional 83 shares during the period. Torray LLC increased its position in Starbucks by 2.1% during the second quarter. Torray LLC now owns 4,085 shares of the coffee company’s stock worth $457,000 after buying an additional 85 shares during the period. Thoroughbred Financial Services LLC increased its position in Starbucks by 1.7% during the second quarter. Thoroughbred Financial Services LLC now owns 5,304 shares of the coffee company’s stock worth $593,000 after buying an additional 88 shares during the period. Westfield Capital Management Co. LP increased its position in Starbucks by 0.8% during the second quarter. Westfield Capital Management Co. LP now owns 10,840 shares of the coffee company’s stock worth $1,212,000 after buying an additional 90 shares during the period. Finally, GYL Financial Synergies LLC increased its position in Starbucks by 1.3% during the second quarter. GYL Financial Synergies LLC now owns 7,529 shares of the coffee company’s stock worth $842,000 after buying an additional 93 shares during the period. 68.27% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Michael Aaron Conway sold 47,088 shares of the company’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $111.50, for a total value of $5,250,312.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gina Woods sold 4,030 shares of the business’s stock in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $113.41, for a total value of $457,042.30. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

SBUX traded up $0.39 during trading on Thursday, reaching $113.97. 4,464,304 shares of the stock were exchanged, compared to its average volume of 6,062,163. The business’s 50 day moving average price is $112.55 and its two-hundred day moving average price is $114.44. The company has a market capitalization of $134.38 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 1.60 and a beta of 0.84. Starbucks Co. has a 1 year low of $95.92 and a 1 year high of $126.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, October 28th. The coffee company reported $1.00 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.00. Starbucks had a negative return on equity of 55.34% and a net margin of 14.45%. The company had revenue of $8.10 billion during the quarter, compared to analysts’ expectations of $8.22 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 3.47 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 25th. Stockholders of record on Friday, February 11th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, February 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.72%. Starbucks’s dividend payout ratio (DPR) is 55.21%.

SBUX has been the topic of several analyst reports. Stephens upgraded Starbucks from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $118.00 to $130.00 in a research note on Monday, November 1st. UBS Group lowered their target price on Starbucks from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, October 29th. Robert W. Baird lowered their target price on Starbucks from $144.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, October 29th. Morgan Stanley lowered their target price on Starbucks from $124.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, October 29th. Finally, Atlantic Securities downgraded Starbucks from an “overweight” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research note on Thursday, September 30th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $123.00.

About Starbucks

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA 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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