Stonebridge Capital Management Inc. Buys 950 Shares of Starbucks Co. (NASDAQ:SBUX)

Stonebridge Capital Management Inc. boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,428 shares of the coffee company’s stock after acquiring an additional 950 shares during the period. Starbucks accounts for about 1.7% of Stonebridge Capital Management Inc.’s holdings, making the stock its 21st biggest position. Stonebridge Capital Management Inc.’s holdings in Starbucks were worth $3,786,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of SBUX. Norges Bank bought a new stake in Starbucks during the 4th quarter valued at $1,240,652,000. Flossbach Von Storch AG increased its stake in shares of Starbucks by 8,677.8% in the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after acquiring an additional 2,684,470 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Starbucks by 342.7% during the 4th quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after acquiring an additional 1,672,656 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Starbucks by 432.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after acquiring an additional 1,656,591 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Starbucks by 44.8% during 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 acquiring an additional 1,591,206 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and dropped their price target for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Morgan Stanley dropped their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Citigroup dropped their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Guggenheim decreased their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, BTIG Research decreased their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.00.

Starbucks Trading Up 0.2 %

Shares of NASDAQ SBUX traded up $0.18 during mid-day trading on Thursday, reaching $79.33. The company had a trading volume of 4,735,044 shares, compared to its average volume of 10,380,840. The business’s 50-day moving average is $80.16 and its 200-day moving average is $88.36. The stock has a market cap of $89.86 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company 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 company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors 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 yield of 2.87%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock valued at $878,893 over the last three months. 1.98% of the stock is owned by company insiders.

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.