LGT Capital Partners LTD. Has $1.71 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

LGT Capital Partners LTD. trimmed its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 97.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,500 shares of the coffee company's stock after selling 597,100 shares during the period. LGT Capital Partners LTD.'s holdings in Starbucks were worth $1,706,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC lifted its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks during the second quarter worth about $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the company's stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Rachel Ruggeri sold 1,452 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on SBUX. JPMorgan Chase & Co. upped their price target on Starbucks from $90.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday, September 30th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 13th. DZ Bank cut Starbucks from a "hold" rating to a "sell" rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Morgan Stanley increased their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, nine 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.81.

Starbucks Price Performance

Shares of SBUX stock traded down $2.05 during trading hours on Tuesday, hitting $98.35. 8,233,474 shares of the company's stock were exchanged, compared to its average volume of 11,100,037. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $105.47. The stock has a market cap of $111.45 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. The stock's 50-day moving average is $96.91 and its 200-day moving average is $86.44.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. Equities research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. This is an increase from Starbucks's previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks's dividend payout ratio is 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.