Vinva Investment Management Ltd Acquires 19,571 Shares of Starbucks Co. (NASDAQ:SBUX)

Vinva Investment Management Ltd boosted its holdings in Starbucks Co. (NASDAQ:SBUXFree Report) by 106.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,909 shares of the coffee company’s stock after purchasing an additional 19,571 shares during the quarter. Vinva Investment Management Ltd’s holdings in Starbucks were worth $3,637,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Morningstar Investment Services LLC boosted its holdings in shares of Starbucks by 254.7% during the 4th quarter. Morningstar Investment Services LLC now owns 1,478,017 shares of the coffee company’s stock valued at $141,786,000 after purchasing an additional 1,061,299 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Starbucks by 12.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,254,384 shares of the coffee company’s stock worth $504,473,000 after acquiring an additional 574,763 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Starbucks by 4.3% during the 4th quarter. Stephens Inc. AR now owns 126,594 shares of the coffee company’s stock valued at $12,154,000 after acquiring an additional 5,206 shares during the last quarter. First National Bank of Omaha increased its position in Starbucks by 180.3% in the fourth quarter. First National Bank of Omaha now owns 68,006 shares of the coffee company’s stock worth $6,529,000 after purchasing an additional 43,745 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its position in Starbucks by 4.9% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 6,960 shares of the coffee company’s stock valued at $668,000 after purchasing an additional 325 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wedbush lowered their price target on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Morgan Stanley cut their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lowered shares of Starbucks from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $108.00 to $89.00 in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, Stifel Nicolaus reduced their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $96.43.

Read Our Latest Report on Starbucks

Starbucks Trading Down 0.0 %

NASDAQ SBUX traded down $0.04 on Friday, hitting $81.43. 10,852,600 shares of the company’s stock traded hands, compared to its average volume of 11,292,614. The firm’s 50-day moving average price is $81.85 and its two-hundred day moving average price is $90.17. The firm has a market capitalization of $92.24 billion, a PE ratio of 22.43, a P/E/G ratio of 1.77 and a beta of 0.96. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUXGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate 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%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. On average, research analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.80%. The ex-dividend date was Thursday, May 16th. Starbucks’s payout ratio is 62.81%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly 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 the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now 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 7,750 shares of company stock valued at $642,050 over the last 90 days. Corporate insiders own 1.98% of the company’s stock.

About Starbucks

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXFree Report).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.