Fisher Asset Management LLC Has $1.09 Billion Stock Position in Starbucks Co. (NASDAQ:SBUX)

Fisher Asset Management LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,367,331 shares of the coffee company’s stock after buying an additional 268,030 shares during the quarter. Fisher Asset Management LLC owned approximately 1.00% of Starbucks worth $1,091,378,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. LGT Group Foundation boosted its position in Starbucks by 1.5% during the 4th quarter. LGT Group Foundation now owns 85,753 shares of the coffee company’s stock worth $8,226,000 after buying an additional 1,305 shares during the period. Rogco LP increased its stake in shares of Starbucks by 22.6% in the fourth quarter. Rogco LP now owns 14,148 shares of the coffee company’s stock valued at $1,358,000 after buying an additional 2,604 shares during the period. Tower View Wealth Management LLC boosted its holdings in Starbucks by 0.5% in the fourth quarter. Tower View Wealth Management LLC now owns 37,915 shares of the coffee company’s stock valued at $3,640,000 after acquiring an additional 192 shares during the last quarter. FFT Wealth Management LLC bought a new stake in Starbucks in the fourth quarter valued at approximately $209,000. Finally, Fortitude Advisory Group L.L.C. raised its holdings in Starbucks by 3.6% during the 4th quarter. Fortitude Advisory Group L.L.C. now owns 11,356 shares of the coffee company’s stock worth $1,090,000 after purchasing an additional 395 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBUX shares. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, January 16th. TD Cowen cut their price target on Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday. Citigroup lowered their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, UBS Group decreased their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.39.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last 90 days. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Down 0.0 %

SBUX stock traded down $0.02 during trading on Thursday, reaching $74.42. The stock had a trading volume of 11,554,845 shares, compared to its average volume of 9,161,820. Starbucks Co. has a one year low of $72.67 and a one year high of $109.72. The company’s 50 day moving average is $89.76 and its two-hundred day moving average is $94.11. The company has a market capitalization of $84.26 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 50.10%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. As a group, research analysts predict that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. 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 3.06%. Starbucks’s dividend payout ratio is 62.81%.

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.