LGT Capital Partners LTD. Raises Stake in Starbucks Co. (NASDAQ:SBUX)

LGT Capital Partners LTD. grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 8.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 682,103 shares of the coffee company’s stock after buying an additional 52,263 shares during the period. Starbucks accounts for approximately 2.0% of LGT Capital Partners LTD.’s portfolio, making the stock its 17th largest position. LGT Capital Partners LTD. owned about 0.06% of Starbucks worth $65,489,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Freedom Wealth Alliance LLC acquired a new stake in Starbucks in the 4th quarter valued at $26,000. Riggs Asset Managment Co. Inc. grew its holdings in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC lifted its holdings in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Starbucks during the second quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the first quarter worth about $37,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Robert W. Baird cut their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. HSBC assumed coverage on Starbucks in a report on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price objective for the company. Citigroup decreased their price target on Starbucks from $103.00 to $102.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, January 16th. Finally, Morgan Stanley raised shares of Starbucks from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $112.00 to $120.00 in a research note on Tuesday, January 16th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $110.05.

Insiders Place Their Bets

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 4,000 shares of company stock valued at $375,665. Insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.1 %

Shares of SBUX stock opened at $91.39 on Friday. The stock has a 50 day moving average of $93.04 and a 200-day moving average of $95.17. The firm has a market cap of $103.47 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.46 and a beta of 0.98. Starbucks Co. has a 12 month low of $89.21 and a 12 month high of $115.48.

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

Starbucks Dividend Announcement

The firm also recently announced 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. This represents a $2.28 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is presently 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.