Ziegler Capital Management LLC Purchases New Shares in Starbucks Co. (NASDAQ:SBUX)

Ziegler Capital Management LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 344,473 shares of the coffee company’s stock, valued at approximately $26,285,000. Starbucks comprises about 0.7% of Ziegler Capital Management LLC’s holdings, making the stock its 26th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altfest L J & Co. Inc. boosted its stake in Starbucks by 10.5% in the 4th quarter. Altfest L J & Co. Inc. now owns 4,224 shares of the coffee company’s stock worth $371,000 after purchasing an additional 401 shares during the period. Winthrop Advisory Group LLC boosted its stake in Starbucks by 15.8% in the 4th quarter. Winthrop Advisory Group LLC now owns 7,378 shares of the coffee company’s stock worth $649,000 after purchasing an additional 1,006 shares during the period. Centric Wealth Management boosted its position in shares of Starbucks by 5.5% during the 4th quarter. Centric Wealth Management now owns 11,207 shares of the coffee company’s stock valued at $985,000 after acquiring an additional 583 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Starbucks by 209.0% during the 4th quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock valued at $30,000 after acquiring an additional 232 shares during the last quarter. Finally, Rockland Trust Co. boosted its position in shares of Starbucks by 2.9% during the 4th quarter. Rockland Trust Co. now owns 173,721 shares of the coffee company’s stock valued at $15,273,000 after acquiring an additional 4,923 shares during the last quarter. 69.16% of the stock is owned by institutional investors and hedge funds.

Shares of SBUX traded down $1.90 during mid-day trading on Monday, hitting $71.89. 682,102 shares of the company’s stock traded hands, compared to its average volume of 12,417,839. Starbucks Co. has a 1 year low of $50.02 and a 1 year high of $99.72. The firm has a market capitalization of $86.21 billion, a P/E ratio of 25.60, a PEG ratio of 3.93 and a beta of 0.80. The business’s 50-day moving average price is $69.07 and its 200-day moving average price is $81.74.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Starbucks had a net margin of 12.71% and a negative return on equity of 50.19%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the firm posted $0.60 earnings per share. Starbucks’s quarterly revenue was down 4.9% on a year-over-year basis. Equities research analysts forecast that Starbucks Co. will post 1.37 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, May 7th. This represents a $1.64 annualized dividend and a dividend yield of 2.28%. Starbucks’s dividend payout ratio is presently 57.95%.

In other Starbucks news, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $70.14, for a total value of $140,280.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $62.99, for a total value of $267,833.48. Following the completion of the sale, the director now directly owns 22,728 shares in the company, valued at $1,431,636.72. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

A number of analysts have recently issued reports on SBUX shares. Telsey Advisory Group reiterated a “market perform” rating on shares of Starbucks in a research report on Friday, March 6th. Bank of America downgraded Starbucks from a “buy” rating to a “neutral” rating and lifted their price target for the company from $68.00 to $73.00 in a research report on Thursday, April 9th. Guggenheim reiterated a “hold” rating on shares of Starbucks in a research report on Wednesday, January 29th. BMO Capital Markets reiterated a “market perform” rating and set a $85.00 price target on shares of Starbucks in a research report on Wednesday, January 29th. Finally, Stephens decreased their price objective on Starbucks from $80.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have issued a buy rating to the stock. Starbucks has an average rating of “Hold” and an average price target of $82.42.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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