LGT Fund Management Co Ltd. Increases Stake in Starbucks Corporation $SBUX

LGT Fund Management Co Ltd. boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 108.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,993 shares of the coffee company’s stock after purchasing an additional 2,600 shares during the period. LGT Fund Management Co Ltd.’s holdings in Starbucks were worth $458,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Starbucks by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the last quarter. Wellington Management Group LLP grew its position in Starbucks by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares during the last quarter. Nuveen LLC purchased a new stake in Starbucks during the 1st quarter valued at about $1,379,619,000. Goldman Sachs Group Inc. grew its position in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Starbucks during the 1st quarter valued at about $817,759,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Cowen reaffirmed a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. TD Cowen reaffirmed a “hold” rating and set a $95.00 price target on shares of Starbucks in a report on Thursday, September 25th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Saturday, September 27th. Finally, CICC Research assumed coverage on shares of Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $104.00.

Starbucks Price Performance

Starbucks stock opened at $86.42 on Friday. The stock has a market cap of $98.23 billion, a P/E ratio of 37.25, a PEG ratio of 4.25 and a beta of 1.01. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm’s 50 day moving average price is $87.56 and its 200-day moving average price is $88.53.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. As a group, equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

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.