Lone Pine Capital LLC Has $509.64 Million Holdings in Starbucks Corporation $SBUX

Lone Pine Capital LLC decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 15.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,561,954 shares of the coffee company’s stock after selling 1,045,934 shares during the period. Starbucks makes up 3.6% of Lone Pine Capital LLC’s holdings, making the stock its 14th biggest holding. Lone Pine Capital LLC owned about 0.49% of Starbucks worth $509,642,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at about $25,000. Transce3nd LLC lifted its stake in Starbucks by 270.3% in the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after buying an additional 200 shares during the period. Chelsea Counsel Co. acquired a new position in Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $28,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $85.35 on Friday. The firm has a market capitalization of $97.05 billion, a P/E ratio of 52.04, a P/E/G ratio of 1.73 and a beta of 0.98. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a 50 day moving average price of $84.00 and a two-hundred day moving average price of $87.67.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The company had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the previous year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $0.62 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s dividend payout ratio is currently 151.22%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Starbucks in a research report on Monday. TD Cowen reaffirmed a “hold” rating and issued a $84.00 price target on shares of Starbucks in a research note on Monday, December 1st. Piper Sandler cut their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Morgan Stanley set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Mizuho raised Starbucks to a “hold” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the acquisition, the director owned 53,096 shares in the company, valued at $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.