Linscomb & Williams Inc. Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Linscomb & Williams Inc. raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,892 shares of the coffee company’s stock after purchasing an additional 1,423 shares during the period. Linscomb & Williams Inc.’s holdings in Starbucks were worth $7,746,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SBUX. Norges Bank bought a new position in shares of Starbucks during the fourth quarter valued at $1,244,400,000. Price T Rowe Associates Inc. MD grew its stake in shares of Starbucks by 46.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,235,062 shares of the coffee company’s stock worth $560,047,000 after acquiring an additional 1,656,946 shares during the period. Morgan Stanley raised its holdings in shares of Starbucks by 6.9% during the fourth quarter. Morgan Stanley now owns 13,603,582 shares of the coffee company’s stock valued at $1,455,309,000 after purchasing an additional 881,073 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Starbucks by 37.1% during the first quarter. Envestnet Asset Management Inc. now owns 3,190,861 shares of the coffee company’s stock valued at $348,665,000 after purchasing an additional 863,282 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Starbucks in the fourth quarter worth approximately $80,812,000. 68.65% of the stock is owned by institutional investors and hedge funds.

Shares of Starbucks stock traded up $0.17 on Thursday, hitting $111.56. 68,093 shares of the company traded hands, compared to its average volume of 6,194,784. Starbucks Co. has a 52 week low of $71.06 and a 52 week high of $118.98. The company’s 50-day moving average price is $113.36. The firm has a market cap of $131.34 billion, a PE ratio of 132.61, a P/E/G ratio of 3.15 and a beta of 0.88.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Monday, April 26th. The coffee company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.52 by $0.10. The business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.75 billion. Starbucks had a net margin of 4.18% and a negative return on equity of 18.94%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Research analysts anticipate that Starbucks Co. will post 2.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Thursday, May 13th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, May 12th. Starbucks’s payout ratio is 153.85%.

In related news, EVP Rachel A. Gonzalez sold 82,894 shares of the company’s stock in a transaction on Monday, March 29th. The shares were sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the sale, the executive vice president now owns 78,905 shares of the company’s stock, valued at $8,640,097.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kevin R. Johnson sold 170,000 shares of the stock in a transaction on Monday, April 5th. The shares were sold at an average price of $111.07, for a total transaction of $18,881,900.00. Following the transaction, the chief executive officer now owns 515,934 shares of the company’s stock, valued at approximately $57,304,789.38. The disclosure for this sale can be found here. Insiders have sold a total of 406,184 shares of company stock worth $44,685,798 over the last ninety days. Insiders own 0.36% of the company’s stock.

Several equities analysts have recently weighed in on SBUX shares. Zacks Investment Research upgraded Starbucks from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Monday, May 3rd. Barclays boosted their price target on Starbucks from $137.00 to $140.00 in a research note on Wednesday, April 28th. Royal Bank of Canada increased their price objective on shares of Starbucks from $126.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Stephens upped their target price on shares of Starbucks from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, April 28th. Finally, Wells Fargo & Company lifted their price target on shares of Starbucks from $126.00 to $129.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 28th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Starbucks currently has a consensus rating of “Buy” and an average price target of $120.80.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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