Cumberland Partners Ltd Acquires 3,870 Shares of Starbucks Co. (NASDAQ:SBUX)

Cumberland Partners Ltd boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,035 shares of the coffee company’s stock after purchasing an additional 3,870 shares during the period. Cumberland Partners Ltd’s holdings in Starbucks were worth $1,341,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Willow Creek Wealth Management Inc. lifted its stake in Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the last quarter. Valley Brook Capital Group Inc. raised its stake in shares of Starbucks by 2.4% during the third quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after acquiring an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. raised its stake in shares of Starbucks by 4.6% during the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after acquiring an additional 100 shares during the last quarter. Herold Advisors Inc. raised its stake in Starbucks by 4.3% in the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after buying an additional 100 shares in the last quarter. Finally, Rodgers Brothers Inc. raised its stake in Starbucks by 1.2% in the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after buying an additional 100 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SBUX. Wedbush reissued a “neutral” rating and issued a $95.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Stephens reissued an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Citigroup decreased their price target on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Morgan Stanley decreased their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $106.68.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 7,000 shares of company stock worth $629,738. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.51 during trading on Wednesday, reaching $88.38. 4,163,399 shares of the stock traded hands, compared to its average volume of 8,366,654. The stock has a 50-day moving average of $90.68 and a two-hundred day moving average of $94.39. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The stock has a market cap of $100.06 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Starbucks Company 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.