Klingenstein Fields & Co. LP Has $20.33 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Klingenstein Fields & Co. LP lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 222,755 shares of the coffee company’s stock after selling 1,088 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Starbucks were worth $20,326,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Asset Planning Inc acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $1,457,000. Compagnie Lombard Odier SCmA boosted its holdings in shares of Starbucks by 128.6% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 2,240 shares of the coffee company’s stock valued at $204,000 after buying an additional 1,260 shares during the last quarter. IMS Capital Management boosted its holdings in shares of Starbucks by 6.6% in the 4th quarter. IMS Capital Management now owns 27,016 shares of the coffee company’s stock valued at $2,465,000 after buying an additional 1,674 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Starbucks by 9.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 470,356 shares of the coffee company’s stock valued at $43,390,000 after buying an additional 40,361 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its holdings in shares of Starbucks by 3.2% in the 4th quarter. Pathway Financial Advisers LLC now owns 8,288 shares of the coffee company’s stock valued at $756,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $113.00 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $113.40. The stock has a market capitalization of $128.36 billion, a P/E ratio of 36.45, a PEG ratio of 3.52 and a beta of 1.00. The stock’s fifty day moving average is $97.76 and its 200 day moving average is $95.49.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the company earned $0.90 EPS. Equities research analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is presently 78.71%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SBUX. BTIG Research increased their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wedbush increased their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. UBS Group raised their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.33.

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.