Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Starbucks Co. (NASDAQ:SBUX)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,502 shares of the coffee company’s stock after purchasing an additional 19,262 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Starbucks were worth $37,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.4% during the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after buying an additional 387,632 shares during the last quarter. State Street Corp grew its stake in shares of Starbucks by 0.3% during the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after buying an additional 135,644 shares during the last quarter. Morgan Stanley grew its stake in shares of Starbucks by 46.3% during the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after buying an additional 8,451,599 shares during the last quarter. Northern Trust Corp grew its stake in shares of Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after buying an additional 232,031 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Starbucks during the fourth quarter valued at approximately $1,222,931,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Starbucks stock opened at $85.70 on Wednesday. The stock has a market capitalization of $97.03 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The business has a fifty day moving average price of $91.51 and a 200-day moving average price of $94.53.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. On average, equities research analysts anticipate that Starbucks Co. will post 4.04 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.66%. Starbucks’s dividend payout ratio is currently 60.96%.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on SBUX shares. Stifel Nicolaus cut their target price on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Piper Sandler cut their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. BTIG Research reduced their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. StockNews.com downgraded Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Wedbush restated a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $107.43.

About Starbucks

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.