Polen Capital Management LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,873,272 shares of the coffee company’s stock after purchasing an additional 124,676 shares during the period. Starbucks accounts for about 5.1% of Polen Capital Management LLC’s holdings, making the stock its 9th biggest position. Polen Capital Management LLC’s holdings in Starbucks were worth $681,882,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the business. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Starbucks during the 3rd quarter valued at $111,000. Gradient Investments LLC bought a new position in shares of Starbucks during the 4th quarter valued at $117,000. Horan Capital Advisors LLC. bought a new position in shares of Starbucks during the 3rd quarter valued at $131,000. Front Row Advisors LLC bought a new position in shares of Starbucks during the 4th quarter valued at $136,000. Finally, Stonehearth Capital Management LLC bought a new position in shares of Starbucks during the 4th quarter valued at $142,000. 73.49% of the stock is owned by institutional investors.
Starbucks Co. (NASDAQ SBUX) opened at $56.31 on Monday. Starbucks Co. has a twelve month low of $52.58 and a twelve month high of $64.87. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The stock has a market cap of $79,149.34, a PE ratio of 18.58, a PEG ratio of 1.56 and a beta of 0.66.
In other news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the sale, the insider now directly owns 331,829 shares in the company, valued at approximately $18,920,889.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the sale, the director now owns 26,500 shares in the company, valued at $1,592,650. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,664 shares of company stock worth $14,243,602. Insiders own 3.40% of the company’s stock.
A number of research firms have recently weighed in on SBUX. Vetr upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $59.39 price target on the stock in a report on Monday. UBS set a $66.00 price target on shares of Starbucks and gave the company a “buy” rating in a report on Thursday, March 15th. Zacks Investment Research downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. BidaskClub upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Finally, Mizuho downgraded shares of Starbucks from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $75.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and an average target price of $64.59.
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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