Intact Investment Management Inc. Has $7.11 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Intact Investment Management Inc. boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 81.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,000 shares of the coffee company’s stock after purchasing an additional 33,200 shares during the quarter. Intact Investment Management Inc.’s holdings in Starbucks were worth $7,105,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Starbucks by 4.5% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 8,114 shares of the coffee company’s stock worth $741,000 after purchasing an additional 352 shares during the last quarter. Apeiron RIA LLC lifted its position in Starbucks by 9.5% during the 3rd quarter. Apeiron RIA LLC now owns 2,747 shares of the coffee company’s stock valued at $251,000 after purchasing an additional 239 shares during the period. Connecticut Wealth Management LLC raised its position in shares of Starbucks by 10.8% in the 3rd quarter. Connecticut Wealth Management LLC now owns 4,028 shares of the coffee company’s stock valued at $368,000 after acquiring an additional 394 shares during the period. First Personal Financial Services raised its position in shares of Starbucks by 0.4% in the 3rd quarter. First Personal Financial Services now owns 78,312 shares of the coffee company’s stock valued at $7,148,000 after acquiring an additional 336 shares during the period. Finally, Family Firm Inc. increased its stake in Starbucks by 20.8% during the 3rd quarter. Family Firm Inc. now owns 2,915 shares of the coffee company’s stock worth $266,000 after purchasing an additional 501 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. 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. BTIG Research cut their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Robert W. Baird dropped their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Barclays dropped their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average price target of $106.55.

Starbucks Stock Performance

Shares of Starbucks stock traded up $0.41 during trading hours on Friday, hitting $88.25. The company’s stock had a trading volume of 7,185,257 shares, compared to its average volume of 7,387,159. The business has a 50 day moving average price of $90.36 and a two-hundred day moving average price of $94.27. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The company has a market cap of $99.92 billion, a PE ratio of 23.60, a PEG ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Starbucks’s revenue was up 8.2% on a year-over-year basis. As a group, research analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 yield of 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is presently 60.96%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is currently owned by company insiders.

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.