Commerzbank Aktiengesellschaft FI Invests $277,000 in Starbucks Co. (NASDAQ:SBUX)

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,885 shares of the coffee company’s stock, valued at approximately $277,000.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Investment Advisors LLC lifted its stake in Starbucks by 1.0% in the third quarter. Capital Investment Advisors LLC now owns 12,710 shares of the coffee company’s stock worth $1,160,000 after purchasing an additional 128 shares during the last quarter. Montecito Bank & Trust increased its position in shares of Starbucks by 5.7% in the third quarter. Montecito Bank & Trust now owns 7,122 shares of the coffee company’s stock valued at $650,000 after acquiring an additional 382 shares during the period. 1900 Wealth Management LLC purchased a new position in shares of Starbucks in the third quarter valued at about $264,000. DAVENPORT & Co LLC increased its position in shares of Starbucks by 1.1% in the third quarter. DAVENPORT & Co LLC now owns 104,843 shares of the coffee company’s stock valued at $9,569,000 after acquiring an additional 1,177 shares during the period. Finally, Park Place Capital Corp increased its position in shares of Starbucks by 5.0% in the third quarter. Park Place Capital Corp now owns 7,701 shares of the coffee company’s stock valued at $703,000 after acquiring an additional 364 shares during the period. 72.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 7,000 shares of company stock valued at $629,738 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. Guggenheim decreased their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday. BTIG Research reduced their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Stephens reiterated an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Jefferies Financial Group reduced their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, April 16th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $106.68.

Starbucks Stock Up 0.7 %

Shares of Starbucks stock opened at $88.18 on Tuesday. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The company has a market cap of $99.84 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98. The company’s 50 day moving average is $90.80 and its 200 day moving average is $94.42.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. Sell-side analysts expect that Starbucks Co. will post 4.01 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. 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 dividend on an annualized basis and a dividend yield of 2.59%. Starbucks’s payout ratio 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.