Norden Group LLC Has $919,000 Position in Starbucks Co. (NASDAQ:SBUX)

Norden Group LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 21.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,571 shares of the coffee company’s stock after purchasing an additional 1,682 shares during the period. Norden Group LLC’s holdings in Starbucks were worth $919,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Riggs Asset Managment Co. Inc. lifted its position in shares of Starbucks by 1,578.9% in 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 during the last quarter. Cypress Capital Management LLC WY increased its stake in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares during the period. Atticus Wealth Management LLC increased its stake in shares of 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 purchasing an additional 200 shares during the period. Evolution Advisers Inc. bought a new position in shares of Starbucks during the fourth quarter worth approximately $36,000. Finally, Financial Connections Group Inc. bought a new position in shares of Starbucks during the fourth quarter worth approximately $38,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on SBUX. Barclays lowered their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Wells Fargo & Company reiterated an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. 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 note on Wednesday, January 31st. Guggenheim decreased their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Robert W. Baird cut their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus target price of $106.55.

Insider Activity at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,250 shares of company stock worth $651,738 over the last 90 days. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

SBUX traded up $0.29 on Tuesday, hitting $88.62. 4,883,393 shares of the company were exchanged, compared to its average volume of 8,334,738. The firm has a fifty day simple moving average of $90.27 and a two-hundred day simple moving average of $94.27. The stock has a market capitalization of $100.34 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 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.