Thornburg Investment Management Inc. Has $52.82 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

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Thornburg Investment Management Inc. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.5% in the 1st quarter, HoldingsChannel reports. The fund owned 710,548 shares of the coffee company’s stock after acquiring an additional 49,846 shares during the period. Thornburg Investment Management Inc.’s holdings in Starbucks were worth $52,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Community Bank N.A. boosted its holdings in shares of Starbucks by 2.1% in the 1st quarter. Community Bank N.A. now owns 6,783 shares of the coffee company’s stock valued at $504,000 after buying an additional 140 shares in the last quarter. Kistler Tiffany Companies LLC boosted its holdings in shares of Starbucks by 1.5% in the 1st quarter. Kistler Tiffany Companies LLC now owns 9,461 shares of the coffee company’s stock valued at $703,000 after buying an additional 142 shares in the last quarter. Orrstown Financial Services Inc. boosted its holdings in shares of Starbucks by 1.2% in the 1st quarter. Orrstown Financial Services Inc. now owns 12,844 shares of the coffee company’s stock valued at $955,000 after buying an additional 147 shares in the last quarter. Shamrock Asset Management LLC boosted its holdings in shares of Starbucks by 2.0% in the 1st quarter. Shamrock Asset Management LLC now owns 8,230 shares of the coffee company’s stock valued at $612,000 after buying an additional 162 shares in the last quarter. Finally, Old North State Trust LLC boosted its holdings in shares of Starbucks by 20.6% in the 1st quarter. Old North State Trust LLC now owns 991 shares of the coffee company’s stock valued at $73,000 after buying an additional 169 shares in the last quarter. Institutional investors own 71.67% of the company’s stock.

Shares of Starbucks stock opened at $84.24 on Friday. The firm has a market cap of $100.95 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 2.34 and a beta of 0.50. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 7.73. Starbucks Co. has a one year low of $47.37 and a one year high of $84.61.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, April 25th. The coffee company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.33 billion. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. Starbucks’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. On average, equities research analysts forecast that Starbucks Co. will post 2.78 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Thursday, May 9th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.44 dividend on an annualized basis and a yield of 1.71%. Starbucks’s payout ratio is currently 59.50%.

Several research firms recently commented on SBUX. Barclays upped their price target on shares of Starbucks from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Piper Jaffray Companies upped their price target on shares of Starbucks from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Bank of America set a $85.00 price target on shares of Starbucks and gave the company a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Co downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $83.00 to $80.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. Finally, Evercore ISI began coverage on shares of Starbucks in a research report on Tuesday. They issued an “in-line” rating and a $82.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Starbucks presently has a consensus rating of “Hold” and a consensus price target of $74.37.

In other Starbucks news, EVP Lucy Lee Helm sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $83.00, for a total transaction of $830,000.00. Following the completion of the transaction, the executive vice president now owns 113,455 shares in the company, valued at approximately $9,416,765. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $76.12, for a total transaction of $759,144.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,910 shares of company stock valued at $6,578,788. 3.98% of the stock is owned by insiders.

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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: The limitations of an equal weight rating

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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