Flossbach Von Storch AG Buys 2,684,470 Shares of Starbucks Co. (NASDAQ:SBUX)

Flossbach Von Storch AG grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 8,677.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,715,405 shares of the coffee company’s stock after acquiring an additional 2,684,470 shares during the quarter. Starbucks comprises about 1.2% of Flossbach Von Storch AG’s portfolio, making the stock its 21st biggest holding. Flossbach Von Storch AG owned approximately 0.24% of Starbucks worth $260,706,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Quilter Plc bought a new position in shares of Starbucks in the 1st quarter valued at $208,530,000. Freedom Wealth Alliance LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $26,000. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Atticus Wealth Management LLC boosted its holdings in shares of Starbucks by 153.8% during 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 in the last quarter. Finally, First Capital Advisors Group LLC. acquired a new position in Starbucks in the 2nd quarter worth about $35,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,250 shares of company stock worth $653,183 in the last quarter. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target on shares of Starbucks in a report on Wednesday, January 31st. BTIG Research cut their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. TD Cowen reissued a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a research note on Thursday, April 11th. StockNews.com lowered Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, JPMorgan Chase & Co. reduced their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $107.43.

Starbucks Price Performance

Shares of SBUX stock traded up $0.79 on Wednesday, reaching $86.21. 6,868,527 shares of the company were exchanged, compared to its average volume of 8,370,617. The company has a 50-day moving average of $91.33 and a 200-day moving average of $94.47. The company has a market cap of $97.61 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.36 and a beta of 0.97. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last announced 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Co. will post 4.04 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is presently 60.96%.

About 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.