Skopos Labs Inc. Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Skopos Labs Inc. bought a new position in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,219 shares of the coffee company’s stock, valued at approximately $693,000.

A number of other large investors have also added to or reduced their stakes in the stock. Riggs Asset Managment Co. Inc. lifted its stake in shares of 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 buying an additional 300 shares in the last quarter. Cypress Capital Management LLC WY lifted its stake in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Atticus Wealth Management LLC lifted its stake in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares in the last quarter. Evolution Advisers Inc. purchased a new position in shares of Starbucks during the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Starbucks during the 4th quarter valued at $38,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. DZ Bank cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Friday, May 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and reduced their target price for the stock from $108.00 to $89.00 in a report on Wednesday, May 1st. Finally, Robert W. Baird reduced their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $96.43.

Starbucks Stock Performance

NASDAQ:SBUX traded up $0.56 during midday trading on Friday, reaching $78.87. 10,744,425 shares of the stock traded hands, compared to its average volume of 10,282,116. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66. The business has a 50-day moving average of $84.31 and a two-hundred day moving average of $92.05. The stock has a market capitalization of $89.34 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.89%. Starbucks’s payout ratio is currently 62.81%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold 7,750 shares of company stock worth $642,050 over the last 90 days. 1.98% of the stock is currently owned by company insiders.

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.