Charles Schwab Investment Management Inc. Has $948.09 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Charles Schwab Investment Management Inc. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,027,953 shares of the coffee company’s stock after purchasing an additional 27,496 shares during the period. Charles Schwab Investment Management Inc. owned 0.89% of Starbucks worth $948,093,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SBUX. Flossbach Von Storch AG lifted its position in shares of Starbucks by 8,677.8% in the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after buying an additional 2,684,470 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Starbucks by 432.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after buying an additional 1,656,591 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Starbucks during the 3rd quarter worth $147,125,000. Nordea Investment Management AB grew its stake in Starbucks by 44.8% in the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after buying an additional 1,591,206 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after buying an additional 1,281,471 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was 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 of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 7,250 shares of company stock valued at $651,738 in the last ninety days. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. BTIG Research lowered their price target on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. HSBC cut their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Barclays dropped their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Guggenheim reduced their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, BMO Capital Markets dropped their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $96.43.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $1.43 during midday trading on Wednesday, reaching $73.93. The company’s stock had a trading volume of 14,064,902 shares, compared to its average volume of 9,748,359. The business’s fifty day simple moving average is $88.03 and its 200-day simple moving average is $93.53. The company has a market capitalization of $83.74 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.58 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $108.11.

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 the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. On average, analysts forecast that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.08%. Starbucks’s payout ratio is currently 62.81%.

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.