Bank Pictet & Cie Europe AG Has $413,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Bank Pictet & Cie Europe AG decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 97.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,551 shares of the coffee company’s stock after selling 155,652 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Starbucks were worth $413,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SBUX. Financial Life Planners acquired a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. Collier Financial acquired a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. DT Investment Partners LLC increased its holdings in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $49,000. Finally, Friedenthal Financial acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research reports. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Stock Down 0.4 %

Shares of SBUX stock opened at $112.55 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $113.47. The business has a fifty day simple moving average of $98.28 and a 200 day simple moving average of $95.87. The company has a market cap of $127.85 billion, a P/E ratio of 36.31, a P/E/G ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 firm posted $0.90 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. Starbucks’s payout ratio is presently 78.71%.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.09% of the company’s stock.

About Starbucks

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.