Cigna Investments Inc. New Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Cigna Investments Inc. New boosted its position in Starbucks Co. (NASDAQ:SBUX) by 6.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 33,288 shares of the coffee company’s stock after purchasing an additional 2,000 shares during the period. Cigna Investments Inc. New’s holdings in Starbucks were worth $2,189,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CRA Financial Services LLC boosted its stake in Starbucks by 4.5% in the fourth quarter. CRA Financial Services LLC now owns 2,772 shares of the coffee company’s stock worth $244,000 after buying an additional 120 shares in the last quarter. MAI Capital Management boosted its position in Starbucks by 0.6% in the fourth quarter. MAI Capital Management now owns 20,636 shares of the coffee company’s stock worth $1,814,000 after purchasing an additional 120 shares during the last quarter. Enterprise Financial Services Corp boosted its position in Starbucks by 0.9% in the fourth quarter. Enterprise Financial Services Corp now owns 13,309 shares of the coffee company’s stock worth $1,171,000 after purchasing an additional 121 shares during the last quarter. Berkeley Capital Partners LLC boosted its position in Starbucks by 1.2% in the fourth quarter. Berkeley Capital Partners LLC now owns 9,982 shares of the coffee company’s stock worth $878,000 after purchasing an additional 123 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its position in Starbucks by 1.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 8,332 shares of the coffee company’s stock worth $733,000 after purchasing an additional 124 shares during the last quarter. 67.70% of the stock is owned by institutional investors and hedge funds.

SBUX traded down $0.43 during trading hours on Friday, reaching $77.62. 7,580,153 shares of the company’s stock traded hands, compared to its average volume of 11,421,882. The firm has a 50-day moving average price of $73.70 and a 200 day moving average price of $80.77. Starbucks Co. has a 52-week low of $50.02 and a 52-week high of $99.72. The firm has a market capitalization of $91.19 billion, a PE ratio of 27.62, a PEG ratio of 4.57 and a beta of 0.80.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 28th. The coffee company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ 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 quarter in the previous year, the firm earned $0.60 EPS. Starbucks’s revenue was down 4.9% compared to the same quarter last year. Sell-side analysts forecast that Starbucks Co. will post 1.24 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Thursday, May 7th. Starbucks’s dividend payout ratio is 57.95%.

Several research analysts have issued reports on SBUX shares. Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating and set a $76.00 target price on the stock. in a research report on Tuesday, May 5th. BMO Capital Markets reaffirmed a “market perform” rating and set a $85.00 price objective on shares of Starbucks in a research report on Wednesday, January 29th. Jefferies Financial Group lifted their price objective on Starbucks from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. TheStreet cut Starbucks from a “b-” rating to a “c” rating in a research report on Tuesday, April 28th. Finally, Goldman Sachs Group lowered their price objective on Starbucks from $95.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating and twelve have assigned a buy rating to the stock. Starbucks currently has an average rating of “Hold” and an average price target of $81.77.

In related news, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $74.89, for a total transaction of $318,432.28. Following the completion of the sale, the director now directly owns 22,728 shares in the company, valued at approximately $1,702,099.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jill Walker sold 2,000 shares of the company’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 disclosure for this sale can be found here. Insiders sold a total of 10,504 shares of company stock valued at $726,546 over the last quarter. Company insiders own 0.41% of the company’s stock.

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.

Featured Story: Stock Selection – What is cash flow?

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.