Zurich Insurance Group Ltd FI cut its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 254,462 shares of the coffee company’s stock after selling 5,658 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Starbucks Corp. were worth $14,535,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. First Republic Investment Management Inc. increased its stake in Starbucks Corp. by 4.9% in the first quarter. First Republic Investment Management Inc. now owns 1,438,991 shares of the coffee company’s stock valued at $85,907,000 after buying an additional 66,883 shares during the last quarter. AIMZ Investment Advisors LLC increased its stake in Starbucks Corp. by 4.3% in the first quarter. AIMZ Investment Advisors LLC now owns 6,185 shares of the coffee company’s stock valued at $369,000 after buying an additional 257 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Starbucks Corp. by 3.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 377,149 shares of the coffee company’s stock valued at $22,539,000 after buying an additional 11,487 shares during the last quarter. Squarepoint Ops LLC increased its stake in Starbucks Corp. by 6.1% in the first quarter. Squarepoint Ops LLC now owns 43,420 shares of the coffee company’s stock valued at $2,592,000 after buying an additional 2,486 shares during the last quarter. Finally, Seven Eight Capital LLC increased its stake in Starbucks Corp. by 817.7% in the first quarter. Seven Eight Capital LLC now owns 23,456 shares of the coffee company’s stock valued at $1,400,000 after buying an additional 20,900 shares during the last quarter. 68.31% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Starbucks Corp. (NASDAQ:SBUX)

Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.67% during midday trading on Friday, hitting $53.93. The company had a trading volume of 8,436,435 shares. Starbucks Corp. has a one year low of $50.84 and a one year high of $63.19. The company’s 50 day moving average is $53.49 and its 200 day moving average is $55.28. The firm has a market cap of $78.76 billion, a price-to-earnings ratio of 28.46 and a beta of 0.77.

Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 3rd. The coffee company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Starbucks Corp. had a return on equity of 49.88% and a net margin of 13.22%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. Starbucks Corp.’s revenue for the quarter was up 16.2% compared to the same quarter last year. Equities analysts forecast that Starbucks Corp. will post $2.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.25 per share. This is an increase from Starbucks Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. Starbucks Corp.’s payout ratio is currently 42.11%.

Several equities research analysts have recently weighed in on SBUX shares. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $69.00 price objective (down from $73.00) on shares of Starbucks Corp. in a report on Wednesday, July 20th. Cowen and Company reissued a “buy” rating on shares of Starbucks Corp. in a report on Monday, July 18th. BTIG Research decreased their price objective on Starbucks Corp. from $75.00 to $64.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Nomura reissued a “buy” rating and issued a $70.00 price objective on shares of Starbucks Corp. in a report on Monday, July 25th. Finally, Jefferies Group reissued a “buy” rating and issued a $65.00 price objective on shares of Starbucks Corp. in a report on Wednesday, August 3rd. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. Starbucks Corp. currently has an average rating of “Buy” and a consensus target price of $64.33.

About Starbucks Corp.

Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.

5 Day Chart for NASDAQ:SBUX

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