Flputnam Investment Management Co. Boosts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Flputnam Investment Management Co. grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 25.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,573 shares of the coffee company’s stock after buying an additional 915 shares during the period. Flputnam Investment Management Co.’s holdings in Starbucks were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Freedom Wealth Alliance LLC acquired a new position in shares of Starbucks in the 4th quarter valued at about $26,000. Riggs Asset Managment Co. Inc. lifted its position in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. Atticus Wealth Management LLC grew its stake in Starbucks by 153.8% during the fourth 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 period. First Capital Advisors Group LLC. purchased a new stake in Starbucks during the second quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the first quarter worth $37,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks 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 transaction of $277,517.50. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 7,250 shares of company stock valued at $653,183 in the last three months. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on SBUX. Morgan Stanley reduced their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. StockNews.com downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Stephens reiterated an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Citigroup reduced their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Starbucks in a research report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $107.43.

Starbucks Trading Up 0.9 %

NASDAQ:SBUX opened at $86.21 on Thursday. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The firm has a market capitalization of $97.61 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 1.37 and a beta of 0.97. The stock has a 50 day moving average of $91.33 and a 200-day moving average of $94.47.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. As a group, analysts predict that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.64%. Starbucks’s dividend payout ratio is presently 60.96%.

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.