Intact Investment Management Inc. Acquires 33,200 Shares of Starbucks Co. (NASDAQ:SBUX)

Intact Investment Management Inc. increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 81.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,000 shares of the coffee company’s stock after buying an additional 33,200 shares during the period. Intact Investment Management Inc.’s holdings in Starbucks were worth $7,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SBUX. Riggs Asset Managment Co. Inc. increased its position in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC increased its position in shares of Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Evolution Advisers Inc. acquired a new position in shares of Starbucks in the 4th quarter valued at $36,000. Financial Connections Group Inc. acquired a new position in shares of Starbucks in the 4th quarter valued at $38,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Starbucks in the 4th quarter valued at $38,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock traded up $0.41 on Friday, hitting $88.25. The stock had a trading volume of 7,185,257 shares, compared to its average volume of 7,387,159. The firm has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97. The stock’s 50 day moving average is $90.36 and its 200-day moving average is $94.27. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the company earned $0.75 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Equities analysts expect that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,250 shares of company stock worth $651,738 in the last ninety days. 1.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SBUX. Jefferies Financial Group lowered their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Guggenheim decreased their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Morgan Stanley decreased their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. BMO Capital Markets decreased their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $105.00 price objective on shares of Starbucks in a report on Monday, April 1st. Fourteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average target price of $106.55.

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.