Jensen Investment Management Inc. Has $128.44 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Jensen Investment Management Inc. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 63.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,317,511 shares of the coffee company’s stock after selling 2,336,458 shares during the period. Starbucks accounts for approximately 1.1% of Jensen Investment Management Inc.’s portfolio, making the stock its 28th biggest holding. Jensen Investment Management Inc.’s holdings in Starbucks were worth $128,444,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board acquired a new stake in Starbucks in the 1st quarter valued at approximately $415,167,000. Marshall Wace LLP increased its holdings in Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Starbucks during the second quarter worth $243,910,000. Capital World Investors bought a new stake in Starbucks during the 1st quarter worth about $257,721,000. Finally, Van ECK Associates Corp increased its holdings in shares of Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after purchasing an additional 2,324,847 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBUX. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. UBS Group lifted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. BMO Capital Markets boosted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $103.32.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

Shares of Starbucks stock traded up $1.43 on Friday, hitting $97.55. 6,118,742 shares of the company traded hands, compared to its average volume of 7,867,492. The business has a 50-day simple moving average of $96.07 and a 200 day simple moving average of $85.79. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a market capitalization of $110.54 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is currently 68.88%.

Starbucks Company Profile

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.