Banque Pictet & Cie SA Has $5.53 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Banque Pictet & Cie SA decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 71.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,909 shares of the coffee company’s stock after selling 151,672 shares during the quarter. Banque Pictet & Cie SA’s holdings in Starbucks were worth $5,533,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in Starbucks in the fourth quarter valued at about $25,000. Collier Financial acquired a new stake in shares of Starbucks during the fourth quarter worth about $27,000. DT Investment Partners LLC raised its position in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Starbucks during the third quarter worth about $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Starbucks during the third quarter worth about $50,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SBUX. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Trading Down 0.4 %

Shares of NASDAQ SBUX opened at $112.55 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.47. The stock has a 50 day moving average of $98.03 and a 200-day moving average of $95.61. The company has a market capitalization of $127.85 billion, a P/E ratio of 36.31, a P/E/G ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the company posted $0.90 earnings per share. Analysts predict that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. Starbucks’s dividend payout ratio is currently 78.71%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by insiders.

Starbucks Company 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.