Alta Capital Management LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 594,442 shares of the coffee company’s stock after acquiring an additional 8,844 shares during the period. Starbucks makes up approximately 2.1% of Alta Capital Management LLC’s holdings, making the stock its 25th largest holding. Alta Capital Management LLC’s holdings in Starbucks were worth $31,927,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Magellan Asset Management Ltd raised its position in shares of Starbucks by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after purchasing an additional 13,452,551 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Starbucks by 539.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after purchasing an additional 3,305,700 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Starbucks by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Starbucks by 3,007.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock valued at $111,069,000 after purchasing an additional 1,843,500 shares in the last quarter. 70.67% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Joshua Cooper Ramo sold 60,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total transaction of $3,565,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is owned by company insiders.

A number of brokerages have issued reports on SBUX. Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Morgan Stanley upped their target price on Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 price target for the company. in a report on Monday, November 13th. UBS set a $64.00 price target on Starbucks and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.26.

Starbucks Co. (SBUX) opened at $57.73 on Thursday. The company has a market capitalization of $82,140.00, a price-to-earnings ratio of 28.03, a P/E/G ratio of 1.59 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Co. has a 52 week low of $52.58 and a 52 week high of $64.87.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. analysts anticipate that Starbucks Co. will post 2.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were paid a dividend of $0.30 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Wednesday, November 15th. Starbucks’s dividend payout ratio is presently 60.91%.

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Starbucks Company Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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