Zurcher Kantonalbank Zurich Cantonalbank Buys 43,898 Shares of Starbucks Co. (NASDAQ:SBUX)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 10.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 463,931 shares of the coffee company’s stock after purchasing an additional 43,898 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Starbucks were worth $36,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Starbucks during the 4th quarter valued at $1,240,652,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks in the first quarter valued at about $415,167,000. Flossbach Von Storch AG boosted its stake in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the period. Capital World Investors purchased a new stake in shares of Starbucks during the first quarter worth about $257,721,000. Finally, Van ECK Associates Corp raised its stake in Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after purchasing an additional 2,071,378 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on SBUX shares. William Blair downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. Wedbush reissued a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, UBS Group decreased their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.21.

Starbucks Stock Down 0.5 %

NASDAQ:SBUX traded down $0.44 during midday trading on Thursday, hitting $94.86. The stock had a trading volume of 8,780,500 shares, compared to its average volume of 12,066,722. The stock has a 50-day moving average of $80.46 and a 200 day moving average of $83.91. The company has a market capitalization of $107.45 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.28 and a beta of 0.94. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.40%. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’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 transaction of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,790 shares of company stock valued at $865,514. Company insiders own 1.98% of the company’s stock.

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.