Banque Pictet & Cie SA Has $5.53 Million Position in Starbucks Co. (NASDAQ:SBUX)

Banque Pictet & Cie SA reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 71.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 60,909 shares of the coffee company’s stock after selling 151,672 shares during the quarter. Banque Pictet & Cie SA’s holdings in Starbucks were worth $5,533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of Starbucks during the fourth quarter worth approximately $25,000. Collier Financial acquired a new position in shares of Starbucks during the fourth quarter worth approximately $27,000. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Starbucks in the third quarter valued at $49,000. Finally, Friedenthal Financial acquired a new position in shares of Starbucks in the third quarter valued at $50,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’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 transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Starbucks Stock Performance

Shares of SBUX stock opened at $112.55 on Friday. The stock’s fifty day moving average is $98.03 and its 200-day moving average is $95.61. The stock has a market capitalization of $127.85 billion, a PE ratio of 36.31, a PEG ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $113.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $0.90 EPS. As a group, analysts forecast that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared 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. This represents a $2.44 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is 78.71%.

Analysts Set New Price Targets

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

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.