Polen Capital Management LLC Raises Holdings in Starbucks Co. (SBUX)

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.

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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.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. equities research analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current year.

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.

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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 coffee and tea products, 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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