Marshall Wace LLP Acquires 140,634 Shares of Starbucks Co. (SBUX)
Marshall Wace LLP grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 36.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 523,834 shares of the coffee company’s stock after buying an additional 140,634 shares during the period. Marshall Wace LLP’s holdings in Starbucks were worth $29,775,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Natixis purchased a new position in Starbucks during the second quarter worth about $36,083,000. CI Global Investments Inc. boosted its stake in Starbucks by 1.3% during the third quarter. CI Global Investments Inc. now owns 120,363 shares of the coffee company’s stock worth $6,841,000 after buying an additional 1,523 shares during the period. Middleton & Co Inc MA boosted its stake in Starbucks by 1.3% during the third quarter. Middleton & Co Inc MA now owns 142,998 shares of the coffee company’s stock worth $8,128,000 after buying an additional 1,768 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Starbucks by 115.3% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 697,709 shares of the coffee company’s stock worth $34,083,000 after buying an additional 373,651 shares during the period. Finally, Taylor Hoffman Wealth Management boosted its stake in Starbucks by 83.8% during the third quarter. Taylor Hoffman Wealth Management now owns 3,437 shares of the coffee company’s stock worth $195,000 after buying an additional 1,567 shares during the period. 76.07% of the stock is owned by hedge funds and other institutional investors.
SBUX has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on shares of Starbucks to $68.00 and gave the stock a “positive” rating in a research note on Friday, November 2nd. BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Bank of America increased their target price on shares of Starbucks from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, October 10th. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Finally, ValuEngine raised shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.34.
NASDAQ SBUX opened at $65.47 on Friday. The company has a market capitalization of $82.56 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.86 and a beta of 0.52. Starbucks Co. has a one year low of $47.37 and a one year high of $68.98. The company has a quick ratio of 1.95, a current ratio of 2.20 and a debt-to-equity ratio of 7.73.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 2.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were issued a $0.36 dividend. The ex-dividend date was Wednesday, November 14th. This represents a $1.44 annualized dividend and a yield of 2.20%. Starbucks’s dividend payout ratio (DPR) is 59.50%.
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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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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