Bank Julius Baer & Co. Ltd Zurich Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 120,790 shares of the coffee company’s stock after selling 5,008 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Starbucks were worth $11,597,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. boosted its holdings in shares of 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 acquiring an additional 300 shares during the last quarter. Atticus Wealth Management LLC boosted its holdings in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Financial Connections Group Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at about $38,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Starbucks during the 4th quarter valued at about $38,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at about $40,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ SBUX traded up $0.41 on Friday, hitting $88.25. 7,183,643 shares of the stock were exchanged, compared to its average volume of 8,379,258. The stock has a fifty day moving average price of $90.46 and a two-hundred day moving average price of $94.30. The firm has a market capitalization of $99.92 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.49 and a beta of 0.97. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48.

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

Starbucks Announces Dividend

The business 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SBUX. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, January 16th. Morgan Stanley lowered 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. Barclays lowered their price objective on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Wells Fargo & Company restated an “overweight” rating and set a $105.00 target price on shares of Starbucks in a research note on Monday, April 1st. Finally, Jefferies Financial Group decreased their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average target price of $106.55.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were 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 directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by company insiders.

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.