ICW Investment Advisors LLC Acquires 665 Shares of Starbucks Co. (NASDAQ:SBUX)

ICW Investment Advisors LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,185 shares of the coffee company’s stock after purchasing an additional 665 shares during the period. ICW Investment Advisors LLC’s holdings in Starbucks were worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Starbucks by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock worth $9,756,001,000 after purchasing an additional 387,632 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after purchasing an additional 232,031 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Starbucks by 11.8% in the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock worth $962,144,000 after acquiring an additional 1,115,051 shares during the period. Nordea Investment Management AB lifted its stake in shares of Starbucks by 44.8% in the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after acquiring an additional 1,591,206 shares during the period. Finally, Jensen Investment Management Inc. lifted its stake in shares of Starbucks by 2.8% in the third quarter. Jensen Investment Management Inc. now owns 4,956,442 shares of the coffee company’s stock worth $452,374,000 after acquiring an additional 133,620 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 7,250 shares of company stock worth $651,738 in the last 90 days. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BTIG Research lowered their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, January 16th. Morgan Stanley cut their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Robert W. Baird dropped their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, Barclays dropped their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $102.48.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $15.15 during mid-day trading on Wednesday, hitting $73.34. The stock had a trading volume of 45,775,996 shares, compared to its average volume of 8,860,931. The company has a 50 day moving average of $90.17 and a two-hundred day moving average of $94.25. Starbucks Co. has a twelve month low of $73.01 and a twelve month high of $114.56. The firm has a market cap of $83.04 billion, a PE ratio of 19.65, a PEG ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.11%. Starbucks’s dividend payout ratio is currently 60.96%.

Starbucks 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.