Harvest Fund Management Co. Ltd Buys 666 Shares of Starbucks Co. (NASDAQ:SBUX)

Harvest Fund Management Co. Ltd raised its stake in Starbucks Co. (NASDAQ:SBUX) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,207 shares of the coffee company’s stock after acquiring an additional 666 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Starbucks were worth $976,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its holdings in Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after acquiring an additional 1,281,471 shares during the period. Metis Global Partners LLC increased its holdings in shares of Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after purchasing an additional 7,619 shares during the period. Tyche Wealth Partners LLC bought a new position in shares of Starbucks during the fourth quarter worth approximately $794,000. Insigneo Advisory Services LLC increased its holdings in shares of Starbucks by 60.6% during the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after purchasing an additional 3,570 shares during the period. Finally, Motco increased its holdings in shares of Starbucks by 1.1% during the third quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after purchasing an additional 811 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 7,000 shares of company stock valued at $629,738 over the last quarter. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent research reports. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Tuesday, January 16th. Barclays lowered their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a 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. Wedbush reiterated a “neutral” rating and set a $95.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Citigroup reduced their price target on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Fourteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $106.68.

Starbucks Stock Down 0.4 %

Shares of SBUX stock traded down $0.31 during trading hours on Tuesday, hitting $87.87. 5,662,674 shares of the company’s stock traded hands, compared to its average volume of 8,423,798. The stock’s 50 day simple moving average is $90.68 and its 200 day simple moving average is $94.39. The stock has a market cap of $99.49 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 1.42 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 released its quarterly 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). The business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. As a group, equities research analysts expect that Starbucks Co. will post 4.01 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is currently 60.96%.

Starbucks Company 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.