Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Lincoln National Corp

Lincoln National Corp increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 14.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,178 shares of the coffee company’s stock after buying an additional 11,108 shares during the quarter. Lincoln National Corp’s holdings in Starbucks were worth $8,370,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Starbucks by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after acquiring an additional 387,632 shares during the period. Northern Trust Corp increased its holdings in shares of Starbucks by 1.5% in the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares during the period. Fisher Asset Management LLC increased its stake in Starbucks by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after buying an additional 268,030 shares during the period. Invesco Ltd. increased its stake in Starbucks by 11.8% in the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after buying an additional 1,115,051 shares during the period. Finally, Nordea Investment Management AB increased its stake in Starbucks by 44.8% in the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after buying an additional 1,591,206 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction 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 owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 7,250 shares of company stock valued at $651,738. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Robert W. Baird dropped their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Evercore ISI dropped their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. TD Cowen cut their price target on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Stifel Nicolaus decreased their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, BTIG Research dropped their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Starbucks has an average rating of “Hold” and a consensus target price of $96.43.

Starbucks Trading Down 0.5 %

Shares of SBUX traded down $0.40 during mid-day trading on Tuesday, reaching $72.50. The company had a trading volume of 21,792,566 shares, compared to its average volume of 9,714,288. The stock has a market cap of $82.12 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97. The firm has a fifty day simple moving average of $88.46 and a 200-day simple moving average of $93.69. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $108.12.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the business earned $0.74 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Co. will post 3.63 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 62.81%.

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.