Starbucks Co. (SBUX) Stake Lifted by King Luther Capital Management Corp

King Luther Capital Management Corp grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 34.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,485 shares of the coffee company’s stock after purchasing an additional 30,072 shares during the quarter. King Luther Capital Management Corp’s holdings in Starbucks were worth $7,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Standard Life Aberdeen plc raised its stake in Starbucks by 5.4% during the 3rd quarter. Standard Life Aberdeen plc now owns 653,570 shares of the coffee company’s stock worth $37,153,000 after buying an additional 33,573 shares during the period. Landsberg Bennett & Dubbaneh LLC bought a new stake in Starbucks during the 4th quarter worth approximately $1,468,000. CI Global Investments Inc. increased its holdings in Starbucks by 1.3% during the 3rd quarter. CI Global Investments Inc. now owns 120,363 shares of the coffee company’s stock worth $6,841,000 after purchasing an additional 1,523 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Starbucks by 1.4% during the 4th quarter. D.A. Davidson & CO. now owns 320,543 shares of the coffee company’s stock worth $20,643,000 after purchasing an additional 4,531 shares in the last quarter. Finally, Godsey & Gibb Associates increased its holdings in Starbucks by 5.9% during the 3rd quarter. Godsey & Gibb Associates now owns 258,055 shares of the coffee company’s stock worth $14,668,000 after purchasing an additional 14,439 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

A number of brokerages have commented on SBUX. BidaskClub lowered Starbucks from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. BMO Capital Markets upped their target price on Starbucks to $63.00 and gave the company a “market perform” rating in a report on Friday, December 14th. They noted that the move was a valuation call. Mizuho set a $75.00 target price on Starbucks and gave the company a “buy” rating in a report on Friday, December 14th. Bank of America set a $68.00 target price on Starbucks and gave the company a “buy” rating in a report on Monday, December 10th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $73.00 target price (up from $66.00) on shares of Starbucks in a report on Friday, December 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $67.01.

In other Starbucks news, EVP Vivek C. Varma sold 73,242 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $68.36, for a total transaction of $5,006,823.12. Following the sale, the executive vice president now owns 140,882 shares in the company, valued at $9,630,693.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vivek C. Varma sold 50,000 shares of the stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $69.13, for a total value of $3,456,500.00. Following the sale, the executive vice president now owns 117,640 shares in the company, valued at approximately $8,132,453.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 565,806 shares of company stock valued at $38,789,988. 3.98% of the stock is owned by corporate insiders.

Shares of NASDAQ SBUX opened at $71.96 on Monday. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $72.43. The firm has a market cap of $89.49 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 2.06 and a beta of 0.50. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.16.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same period in the prior year, the company earned $0.65 earnings per share. Starbucks’s revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that Starbucks Co. will post 2.72 earnings per share for the current year.

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About Starbucks

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.

Further Reading: Analyst Ratings

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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