Edmond DE Rothschild Holding S.A. Grows Position in Starbucks Co. (NASDAQ:SBUX)

Edmond DE Rothschild Holding S.A. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 60.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,374 shares of the coffee company’s stock after buying an additional 14,085 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Starbucks were worth $3,416,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SBUX. Norges Bank purchased a new position in Starbucks during the fourth quarter valued at $1,240,652,000. Flossbach Von Storch AG raised its stake in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Van ECK Associates Corp raised its stake in Starbucks by 2,624.3% during the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after buying an additional 2,071,378 shares during the last quarter. Bank of Nova Scotia raised its stake in Starbucks by 342.7% during the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after buying an additional 1,672,656 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Starbucks by 432.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after buying an additional 1,656,591 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SBUX shares. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Guggenheim reduced their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 19th. The Goldman Sachs Group started coverage on Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Wedbush reissued a “neutral” rating and issued a $81.00 target price on shares of Starbucks in a report on Friday, June 28th. Finally, Morgan Stanley reduced their target price on Starbucks from $104.00 to $98.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.92.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,500 shares of company stock valued at $601,375. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX traded down $0.41 during mid-day trading on Wednesday, reaching $75.10. The company’s stock had a trading volume of 11,564,269 shares, compared to its average volume of 10,412,585. The firm has a market capitalization of $85.07 billion, a PE ratio of 20.69, a P/E/G ratio of 1.59 and a beta of 0.94. The stock has a fifty day moving average of $77.96 and a two-hundred day moving average of $86.08. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. Analysts anticipate that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 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.