Swedbank AB Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

Swedbank AB reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 549,558 shares of the coffee company’s stock after selling 2,611 shares during the period. Swedbank AB’s holdings in Starbucks were worth $50,147,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the period. FMR LLC lifted its stake in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after acquiring an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after acquiring an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Starbucks in the 3rd quarter worth $126,574,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $108.58 on Thursday. The company has a market cap of $123.11 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.08. The company has a 50-day simple moving average of $95.70 and a 200-day simple moving average of $92.89.

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 net margin of 10.40% and a negative return on equity of 46.39%. During the same quarter in the prior year, the firm earned $0.90 earnings per share. On average, analysts anticipate that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 2.25%. Starbucks’s payout ratio is 73.72%.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America reduced their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. BMO Capital Markets raised their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Finally, Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.52.

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.