Canton Hathaway LLC Acquires 838 Shares of Starbucks Co. (NASDAQ:SBUX)

Canton Hathaway LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,096 shares of the coffee company’s stock after acquiring an additional 838 shares during the period. Canton Hathaway LLC’s holdings in Starbucks were worth $1,886,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of SBUX. Vanguard Group Inc. increased its position in Starbucks by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 97,136,962 shares of the coffee company’s stock valued at $10,860,884,000 after buying an additional 828,102 shares in the last quarter. State Street Corp increased its position in Starbucks by 1.0% in the 2nd quarter. State Street Corp now owns 46,965,699 shares of the coffee company’s stock valued at $5,251,235,000 after buying an additional 462,453 shares in the last quarter. Geode Capital Management LLC increased its position in Starbucks by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 19,545,995 shares of the coffee company’s stock valued at $2,179,292,000 after buying an additional 387,898 shares in the last quarter. Polen Capital Management LLC increased its position in Starbucks by 5.4% in the 2nd quarter. Polen Capital Management LLC now owns 14,802,150 shares of the coffee company’s stock valued at $1,655,028,000 after buying an additional 753,946 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Starbucks by 15.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,407,536 shares of the coffee company’s stock valued at $1,499,096,000 after buying an additional 1,822,190 shares in the last quarter. 68.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Starbucks stock traded up $0.39 during trading on Thursday, hitting $113.97. The stock had a trading volume of 4,464,304 shares, compared to its average volume of 6,062,163. The firm has a market cap of $134.38 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 1.60 and a beta of 0.84. Starbucks Co. has a 12 month low of $95.92 and a 12 month high of $126.32. The business’s 50-day moving average is $112.55 and its 200 day moving average is $114.44.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, October 28th. The coffee company reported $1.00 earnings per share for the quarter, hitting the consensus estimate of $1.00. The firm had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $8.22 billion. Starbucks had a net margin of 14.45% and a negative return on equity of 55.34%. The business’s quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3.47 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 25th. Stockholders of record on Friday, February 11th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, February 10th. This represents a $1.96 annualized dividend and a dividend yield of 1.72%. Starbucks’s payout ratio is currently 55.21%.

A number of equities analysts have issued reports on SBUX shares. Royal Bank of Canada cut their price target on Starbucks from $131.00 to $124.00 and set an “outperform” rating for the company in a research note on Friday, October 29th. Argus downgraded Starbucks from a “buy” rating to a “hold” rating in a research note on Thursday, November 4th. Stephens upgraded Starbucks from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $118.00 to $130.00 in a research note on Monday, November 1st. UBS Group cut their price target on Starbucks from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Friday, October 29th. Finally, Wedbush cut their price target on Starbucks from $132.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, October 29th. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $123.00.

In related news, EVP Gina Woods sold 4,030 shares of the company’s stock in a transaction on Tuesday, November 23rd. The shares were sold at an average price of $113.41, for a total value of $457,042.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Aaron Conway sold 47,088 shares of the company’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $111.50, for a total transaction of $5,250,312.00. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

Starbucks Company Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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