Assenagon Asset Management S.A. raised its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 1,491.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,808,571 shares of the coffee company's stock after buying an additional 2,632,087 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.25% of Starbucks worth $256,282,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. Wellington Management Group LLP grew its holdings in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC grew its stake in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company's stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the period. Marshall Wace LLP increased its holdings in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company's stock worth $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company's stock worth $248,153,000 after buying an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in Starbucks in the third quarter valued at $126,574,000. Institutional investors and hedge funds own 72.29% of the company's stock.
In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.98% of the company's stock.
Shares of SBUX stock opened at $93.07 on Wednesday. The firm has a market cap of $105.52 billion, a P/E ratio of 28.12, a P/E/G ratio of 2.86 and a beta of 0.99. The firm has a fifty day moving average of $95.98 and a two-hundred day moving average of $91.34. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts' consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the firm earned $1.06 earnings per share. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts expect that Starbucks Co. will post 3.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks's dividend payout ratio is currently 73.72%.
Several brokerages have commented on SBUX. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a "buy" rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. BTIG Research increased their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Finally, Redburn Atlantic restated a "sell" rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.77.
Get Our Latest Stock Analysis on 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.
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