Starbucks Co. (NASDAQ:SBUX) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 74.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,884,183 shares of the coffee company’s stock after buying an additional 803,853 shares during the period. National Bank of Canada FI’s holdings in Starbucks were worth $176,487,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. grew its stake in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Cypress Capital Management LLC WY increased its holdings in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the period. Atticus Wealth Management LLC raised its position in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Evolution Advisers Inc. purchased a new position in Starbucks during the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. acquired a new stake in Starbucks during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was 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 is available at this hyperlink. Insiders sold a total of 7,250 shares of company stock valued at $651,738 in the last 90 days. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Down 2.4 %

Shares of Starbucks stock traded down $1.82 on Friday, hitting $73.11. 22,153,770 shares of the company were exchanged, compared to its average volume of 12,042,146. Starbucks Co. has a 1-year low of $72.67 and a 1-year high of $108.12. The stock has a market capitalization of $82.81 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. The company has a 50-day moving average price of $88.89 and a 200 day moving average price of $93.84.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $9.12 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Research analysts forecast that Starbucks Co. will post 3.69 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 3.12%. Starbucks’s payout ratio is 62.81%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group reduced their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus reduced their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday. Morgan Stanley dropped their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Piper Sandler decreased their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Finally, TD Cowen dropped their target price on Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus target price of $97.09.

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.