LGT Capital Partners LTD. Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

LGT Capital Partners LTD. grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 682,103 shares of the coffee company’s stock after buying an additional 52,263 shares during the period. Starbucks accounts for 2.0% of LGT Capital Partners LTD.’s portfolio, making the stock its 17th biggest position. LGT Capital Partners LTD.’s holdings in Starbucks were worth $65,489,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SBUX. BCK Partners Inc. purchased a new stake in shares of Starbucks during the first quarter valued at approximately $2,640,000. American Century Companies Inc. increased its holdings in shares of Starbucks by 7.3% in the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock worth $2,514,000 after purchasing an additional 1,872 shares in the last quarter. Roundview Capital LLC raised its stake in shares of Starbucks by 37.5% in the first quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock worth $651,000 after purchasing an additional 1,952 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Starbucks during the first quarter valued at $198,000. Finally, Mather Group LLC. increased its holdings in Starbucks by 77.5% in the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock worth $629,000 after buying an additional 3,017 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 4,000 shares of company stock worth $375,665. 1.98% of the stock is owned by company insiders.

Starbucks Trading Down 0.1 %

Shares of SBUX opened at $91.39 on Friday. Starbucks Co. has a 12 month low of $89.21 and a 12 month high of $115.48. The stock has a fifty day moving average price of $93.04 and a 200-day moving average price of $95.17. The firm has a market cap of $103.47 billion, a PE ratio of 24.44, a P/E/G ratio of 1.46 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. As a group, research analysts forecast that Starbucks Co. will post 4.06 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Tuesday, January 16th. Morgan Stanley upgraded Starbucks from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $112.00 to $120.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. TD Cowen restated a “market perform” rating and set a $102.00 target price on shares of Starbucks in a research report on Tuesday, March 19th. Finally, BTIG Research dropped their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $110.05.

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.