Starbucks Co. (NASDAQ:SBUX) Stock Holdings Increased by Cumberland Partners Ltd

Cumberland Partners Ltd increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 38.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,035 shares of the coffee company’s stock after purchasing an additional 3,870 shares during the quarter. Cumberland Partners Ltd’s holdings in Starbucks were worth $1,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Starbucks by 0.4% in 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 raised its holdings 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 acquiring an additional 232,031 shares during the period. Invesco Ltd. raised its holdings in shares of Starbucks by 11.8% during the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after acquiring an additional 1,115,051 shares during the period. Nordea Investment Management AB raised its holdings in shares of Starbucks by 44.8% during the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after acquiring an additional 1,591,206 shares during the period. Finally, Jensen Investment Management Inc. raised its holdings in shares of Starbucks by 2.8% during the third quarter. Jensen Investment Management Inc. now owns 4,956,442 shares of the coffee company’s stock valued at $452,374,000 after acquiring an additional 133,620 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. BMO Capital Markets lowered their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Wedbush reaffirmed a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. TD Cowen reissued a “hold” rating and issued a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Finally, Morgan Stanley decreased their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus target price of $106.68.

Starbucks Trading Up 0.6 %

NASDAQ:SBUX traded up $0.51 during trading hours on Wednesday, hitting $88.38. 4,163,399 shares of the company traded hands, compared to its average volume of 8,366,654. The stock has a market capitalization of $100.06 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 1.44 and a beta of 0.97. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The firm has a 50-day moving average of $90.68 and a 200 day moving average of $94.39.

Starbucks (NASDAQ:SBUX) last released its 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 company had revenue of $9.43 billion for 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%. Starbucks’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is 60.96%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders sold 7,000 shares of company stock worth $629,738. 1.98% of the stock is currently owned by corporate 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.