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

Flossbach Von Storch AG increased its position in Starbucks Co. (NASDAQ:SBUX) by 8,677.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,715,405 shares of the coffee company’s stock after purchasing an additional 2,684,470 shares during the period. Starbucks accounts for 1.2% of Flossbach Von Storch AG’s portfolio, making the stock its 21st biggest position. Flossbach Von Storch AG’s holdings in Starbucks were worth $260,706,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Quilter Plc purchased a new stake in shares of Starbucks in the 1st quarter worth about $208,530,000. Freedom Wealth Alliance LLC bought a new stake in Starbucks during the fourth quarter worth about $26,000. Riggs Asset Managment Co. Inc. grew its holdings in Starbucks by 1,578.9% in 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 during the period. Atticus Wealth Management LLC increased its stake in shares of Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Finally, First Capital Advisors Group LLC. purchased a new position in shares of Starbucks during the second quarter valued at approximately $35,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 7,250 shares of company stock valued at $653,183. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.79 during midday trading on Wednesday, hitting $86.21. 6,868,527 shares of the company’s stock traded hands, compared to its average volume of 8,370,617. The firm has a fifty day moving average of $91.33 and a 200 day moving average of $94.47. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48. The stock has a market capitalization of $97.61 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.36 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 4.04 earnings per share for the current year.

Starbucks Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SBUX shares. Wedbush reaffirmed a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a research note on Monday, April 1st. JPMorgan Chase & Co. lowered their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Morgan Stanley cut their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, HSBC assumed coverage on shares of Starbucks in a research note on Wednesday, December 20th. They set a “hold” rating and a $107.00 price objective for the company. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $107.43.

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.