Stonebridge Capital Management Inc. Grows Position in Starbucks Co. (NASDAQ:SBUX)

Stonebridge Capital Management Inc. raised its position in Starbucks Co. (NASDAQ:SBUX) by 2.3% during the first quarter, HoldingsChannel.com reports. The firm owned 41,428 shares of the coffee company’s stock after buying an additional 950 shares during the quarter. Starbucks comprises 1.7% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Stonebridge Capital Management Inc.’s holdings in Starbucks were worth $3,786,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SBUX. Norges Bank purchased a new position in shares of Starbucks in the 4th quarter worth about $1,240,652,000. Flossbach Von Storch AG grew its stake in shares of Starbucks by 8,677.8% in the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after buying an additional 2,684,470 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of Starbucks by 342.7% in 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 in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Starbucks by 432.5% in 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 in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Starbucks by 44.8% in the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after buying an additional 1,591,206 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock valued at $878,893 over the last quarter. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

SBUX traded up $0.18 during trading on Thursday, reaching $79.33. 4,735,044 shares of the stock traded hands, compared to its average volume of 10,380,840. 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 fifty-two week low of $71.80 and a fifty-two week high of $107.66. The stock’s 50-day simple moving average is $80.16 and its two-hundred day simple moving average is $88.36.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. Research analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.87%. Starbucks’s dividend payout ratio is currently 62.81%.

Analyst Ratings Changes

A number of research firms have recently issued reports on SBUX. Robert W. Baird lowered their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Stifel Nicolaus lowered their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Evercore ISI decreased their target price on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group cut their price target on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and cut their target price for the company from $108.00 to $89.00 in a research note on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.00.

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.