Harvest Fund Management Co. Ltd Buys 666 Shares of Starbucks Co. (NASDAQ:SBUX)

Harvest Fund Management Co. Ltd grew its stake in Starbucks Co. (NASDAQ:SBUX) by 7.0% in the 4th quarter, Holdings Channel reports. The firm owned 10,207 shares of the coffee company’s stock after purchasing an additional 666 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Starbucks were worth $976,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SBUX. Cerity Partners LLC increased its stake in shares of Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after acquiring an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC increased its stake in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after acquiring an additional 7,619 shares in the last quarter. Tyche Wealth Partners LLC bought a new position in shares of Starbucks in the 4th quarter worth about $794,000. Insigneo Advisory Services LLC increased its stake in shares of Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after acquiring an additional 3,570 shares in the last quarter. Finally, Motco increased its stake in shares of Starbucks by 1.1% in the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after acquiring an additional 811 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on SBUX. TD Cowen reiterated a “hold” rating and issued a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Tuesday, January 16th. Jefferies Financial Group reduced their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, April 16th. Stifel Nicolaus reduced their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Finally, Guggenheim reduced their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $106.68.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 7,000 shares of company stock worth $629,738. 1.98% of the stock is owned by company insiders.

Starbucks Trading Down 0.4 %

NASDAQ SBUX traded down $0.31 during trading hours on Tuesday, hitting $87.87. 5,662,674 shares of the company’s stock traded hands, compared to its average volume of 8,423,798. The business’s fifty day moving average price is $90.68 and its two-hundred day moving average price is $94.39. The firm has a market capitalization of $99.49 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.42 and a beta of 0.98. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 4.01 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced 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 is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.59%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

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.