HS Management Partners LLC Cuts Stock Position in Starbucks Corporation $SBUX

HS Management Partners LLC lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 30.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 255,459 shares of the coffee company’s stock after selling 111,860 shares during the quarter. Starbucks accounts for 2.8% of HS Management Partners LLC’s investment portfolio, making the stock its 19th largest position. HS Management Partners LLC’s holdings in Starbucks were worth $21,612,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SBUX. Game Plan Financial Advisors LLC purchased a new stake in Starbucks during the second quarter worth about $25,000. Transce3nd LLC grew its position in shares of Starbucks by 270.3% during the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after acquiring an additional 200 shares during the period. Chelsea Counsel Co. purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the period. Finally, MTM Investment Management LLC purchased a new position in Starbucks in the second quarter valued at approximately $28,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This trade represents a 28.26% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Starbucks Trading Up 1.7%

Starbucks stock opened at $88.18 on Friday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $100.27 billion, a PE ratio of 53.77, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97. The firm’s 50 day simple moving average is $84.97 and its 200 day simple moving average is $87.16.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. Research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.8%. Starbucks’s payout ratio is presently 151.22%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SBUX. Zacks Research lowered Starbucks from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. Mizuho upgraded shares of Starbucks to a “hold” rating in a research report on Tuesday, October 28th. Sanford C. Bernstein set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, UBS Group set a $94.00 target price on shares of Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $102.04.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.