Geneva Partners LLC Buys New Holdings in Starbucks Co. (SBUX)

Geneva Partners LLC bought a new position in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, Holdings Channel reports. The institutional investor bought 50,920 shares of the coffee company’s stock, valued at approximately $3,279,000. Starbucks accounts for about 3.8% of Geneva Partners LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Rathbone Brothers plc increased its stake in Starbucks by 10.0% in the 3rd quarter. Rathbone Brothers plc now owns 10,953 shares of the coffee company’s stock valued at $623,000 after buying an additional 999 shares during the period. Capital Investment Advisors LLC increased its stake in Starbucks by 18.1% in the 3rd quarter. Capital Investment Advisors LLC now owns 7,959 shares of the coffee company’s stock valued at $452,000 after buying an additional 1,217 shares during the period. MainStreet Investment Advisors LLC increased its stake in Starbucks by 54.2% in the 3rd quarter. MainStreet Investment Advisors LLC now owns 109,255 shares of the coffee company’s stock valued at $6,210,000 after buying an additional 38,394 shares during the period. CenterStar Asset Management LLC increased its stake in Starbucks by 209.6% in the 3rd quarter. CenterStar Asset Management LLC now owns 7,274 shares of the coffee company’s stock valued at $417,000 after buying an additional 13,912 shares during the period. Finally, Sheets Smith Wealth Management increased its stake in Starbucks by 471.4% in the 3rd quarter. Sheets Smith Wealth Management now owns 26,226 shares of the coffee company’s stock valued at $1,491,000 after buying an additional 21,636 shares during the period. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Several equities analysts have issued reports on the stock. BidaskClub cut shares of Starbucks from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Monday, January 28th. Bank of America set a $75.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research note on Friday, January 25th. CIBC upped their price target on shares of Starbucks from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, January 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target (up from $70.00) on shares of Starbucks in a research note on Friday, January 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.01.

Shares of NASDAQ SBUX opened at $69.75 on Monday. The stock has a market capitalization of $86.74 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 2.00 and a beta of 0.48. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $69.82. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.16 and a current ratio of 1.41.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.49 billion. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. As a group, equities research analysts expect that Starbucks Co. will post 2.72 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Thursday, February 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $1.44 dividend on an annualized basis and a yield of 2.06%. Starbucks’s payout ratio is 59.50%.

In other Starbucks news, EVP Vivek C. Varma sold 50,000 shares of the company’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $69.13, for a total value of $3,456,500.00. Following the transaction, the executive vice president now directly owns 117,640 shares in the company, valued at approximately $8,132,453.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Culver sold 169,096 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $68.81, for a total transaction of $11,635,495.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 444,972 shares of company stock worth $30,358,876. 3.98% of the stock is owned by corporate insiders.

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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 beverages, iced tea, 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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