Klingenstein Fields & Co. LP Buys 3,636 Shares of Starbucks Co. (NASDAQ:SBUX)

Klingenstein Fields & Co. LP raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 220,156 shares of the coffee company’s stock after acquiring an additional 3,636 shares during the period. Klingenstein Fields & Co. LP’s holdings in Starbucks were worth $21,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Freedom Wealth Alliance LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at about $26,000. Riggs Asset Managment Co. Inc. increased its position 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 purchasing an additional 300 shares during the last quarter. Atticus Wealth Management LLC increased its position 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 purchasing an additional 200 shares during the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of Starbucks during the 2nd quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 1st quarter valued at about $37,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX traded up $0.46 during midday trading on Friday, reaching $87.61. 11,899,968 shares of the stock traded hands, compared to its average volume of 6,964,867. The stock has a market capitalization of $99.19 billion, a PE ratio of 23.43, a P/E/G ratio of 1.42 and a beta of 0.97. The company’s 50 day moving average is $90.94 and its 200 day moving average is $94.43. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results 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 firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 4.01 EPS for the current year.

Starbucks Dividend Announcement

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 paid a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.60%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Analyst Ratings Changes

Several research firms recently issued reports on SBUX. BMO Capital Markets reduced their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Jefferies Financial Group reduced their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Guggenheim reduced their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Hold” and a consensus target price of $106.68.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 7,250 shares of company stock worth $653,183 over the last quarter. Insiders own 1.98% of the company’s stock.

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.