Flputnam Investment Management Co. Purchases 915 Shares of Starbucks Co. (NASDAQ:SBUX)

Flputnam Investment Management Co. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 25.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,573 shares of the coffee company’s stock after purchasing an additional 915 shares during the period. Flputnam Investment Management Co.’s holdings in Starbucks were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SBUX. Quilter Plc acquired a new stake in Starbucks in the 1st quarter valued at $208,530,000. Freedom Wealth Alliance LLC bought a new position in shares of Starbucks during the fourth quarter valued at $26,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC grew its holdings in shares of Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Starbucks in the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SBUX. TD Cowen reissued a “hold” rating and set a $100.00 price target on shares of Starbucks in a report on Thursday, April 11th. BMO Capital Markets decreased their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Morgan Stanley cut their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Stephens reissued an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Finally, HSBC initiated coverage on Starbucks in a research note on Wednesday, December 20th. They issued a “hold” rating and a $107.00 target price for the company. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $107.43.

Insider Transactions at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred 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 transaction, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 7,250 shares of company stock worth $653,183. 1.98% of the stock is currently owned by company insiders.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $86.21 on Thursday. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The firm has a market capitalization of $97.61 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.37 and a beta of 0.97. The company’s 50 day simple moving average is $91.33 and its 200 day simple moving average is $94.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the company earned $0.75 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 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.