Avanza Fonder AB Invests $7.89 Million in Starbucks Co. (NASDAQ:SBUX)

Avanza Fonder AB acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 86,432 shares of the coffee company's stock, valued at approximately $7,887,000.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company's stock worth $4,482,045,000 after purchasing an additional 437,218 shares during the last quarter. Geode Capital Management LLC increased its stake in Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company's stock worth $2,358,464,000 after acquiring an additional 333,004 shares during the last quarter. FMR LLC raised its holdings 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 worth $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Starbucks by 2.9% in the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company's stock valued at $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company's stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.98% of the company's stock.

Analyst Ratings Changes

SBUX has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. UBS Group lifted their target price on Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Finally, Barclays decreased their price target on Starbucks from $110.00 to $108.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $103.92.

Starbucks Stock Up 0.7 %

Shares of NASDAQ SBUX traded up $0.70 during midday trading on Friday, reaching $95.13. 8,361,293 shares of the company's stock traded hands, compared to its average volume of 7,954,453. The company has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.73 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The stock's 50 day simple moving average is $95.84 and its 200-day simple moving average is $91.50.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business's revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.06 EPS. Equities analysts predict that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Friday, February 14th. Starbucks's dividend payout ratio is currently 73.72%.

Starbucks 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.