Great Lakes Advisors LLC Has $5.06 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Great Lakes Advisors LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 12.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,562 shares of the coffee company’s stock after purchasing an additional 6,105 shares during the period. Great Lakes Advisors LLC’s holdings in Starbucks were worth $5,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SBUX. Qube Research & Technologies Ltd increased its position in shares of Starbucks by 1,625.1% during the fourth quarter. Qube Research & Technologies Ltd now owns 288,234 shares of the coffee company’s stock worth $33,715,000 after acquiring an additional 271,526 shares in the last quarter. RFG Advisory LLC increased its position in shares of Starbucks by 13.6% during the fourth quarter. RFG Advisory LLC now owns 12,883 shares of the coffee company’s stock worth $1,507,000 after acquiring an additional 1,544 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Starbucks by 3.0% during the fourth quarter. Pinnacle Associates Ltd. now owns 127,471 shares of the coffee company’s stock worth $14,910,000 after acquiring an additional 3,706 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Starbucks by 9.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 269,844 shares of the coffee company’s stock worth $31,358,000 after acquiring an additional 22,276 shares in the last quarter. Finally, Helios Capital Management PTE. Ltd. bought a new stake in shares of Starbucks during the fourth quarter worth about $2,164,000. Institutional investors and hedge funds own 69.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBUX. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Starbucks from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday. MKM Partners reduced their price objective on shares of Starbucks from $105.00 to $98.00 in a research report on Wednesday, May 4th. Barclays upped their price objective on shares of Starbucks from $94.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets reduced their price objective on shares of Starbucks from $115.00 to $105.00 in a research report on Wednesday, May 4th. Finally, Cowen reduced their price objective on shares of Starbucks from $115.00 to $94.00 in a research report on Wednesday, May 4th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $102.92.

Insiders Place Their Bets

In other news, CEO Howard D. Schultz bought 72,500 shares of the stock in a transaction on Thursday, May 12th. The shares were acquired at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the purchase, the chief executive officer now directly owns 19,606,960 shares of the company’s stock, valued at approximately $1,349,939,196. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Howard D. Schultz purchased 72,500 shares of the firm’s stock in a transaction dated Thursday, May 12th. The shares were purchased at an average price of $68.85 per share, with a total value of $4,991,625.00. Following the acquisition, the chief executive officer now directly owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Howard D. Schultz purchased 137,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was bought at an average cost of $72.67 per share, for a total transaction of $9,992,125.00. Following the acquisition, the chief executive officer now directly owns 19,534,460 shares in the company, valued at $1,419,569,208.20. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $85.73 on Friday. Starbucks Co. has a 1 year low of $68.39 and a 1 year high of $120.76. The stock has a market capitalization of $98.32 billion, a PE ratio of 24.15, a P/E/G ratio of 2.73 and a beta of 0.95. The company’s 50 day simple moving average is $78.88 and its two-hundred day simple moving average is $83.14.

Starbucks (NASDAQ:SBUXGet Rating) last posted its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the previous year, the firm posted $1.01 EPS. On average, research analysts anticipate that Starbucks Co. will post 2.85 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, August 11th. Starbucks’s dividend payout ratio is presently 55.21%.

Starbucks Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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