Starbucks Co. (NASDAQ:SBUX) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 395,502 shares of the coffee company’s stock after acquiring an additional 19,262 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Starbucks were worth $37,972,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

SBUX has been the topic of several analyst reports. StockNews.com downgraded Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Citigroup lowered their target price on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Wedbush reiterated a “neutral” rating and issued a $95.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Jefferies Financial Group lowered their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average target price of $107.43.

Insider Activity at Starbucks

In related 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 value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 4,000 shares of company stock worth $375,665. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

SBUX opened at $85.70 on Wednesday. The business’s fifty day moving average is $91.51 and its two-hundred day moving average is $94.53. The company has a market cap of $97.03 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the firm earned $0.75 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that Starbucks Co. will post 4.04 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. Investors 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 annualized dividend and a yield of 2.66%. Starbucks’s payout ratio is currently 60.96%.

About Starbucks

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.