Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 51.8% during the first quarter, HoldingsChannel reports. The firm owned 450,112 shares of the coffee company’s stock after purchasing an additional 153,653 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Starbucks were worth $33,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SBUX. Oregon Public Employees Retirement Fund grew its position in Starbucks by 5,590.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock valued at $368,000 after buying an additional 23,263,399 shares during the period. Massachusetts Financial Services Co. MA grew its position in Starbucks by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,579,438 shares of the coffee company’s stock valued at $874,515,000 after buying an additional 100,049 shares during the period. Norges Bank acquired a new stake in Starbucks during the fourth quarter valued at $807,368,000. Legal & General Group Plc grew its position in Starbucks by 1.4% during the fourth quarter. Legal & General Group Plc now owns 6,545,000 shares of the coffee company’s stock valued at $421,405,000 after buying an additional 91,187 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in Starbucks during the fourth quarter valued at $352,796,000. Institutional investors and hedge funds own 74.73% of the company’s stock.

SBUX opened at $77.59 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 7.73. The firm has a market cap of $93.89 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 2.21 and a beta of 0.51. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $79.65.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 2.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 9th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, May 8th. Starbucks’s dividend payout ratio is currently 59.50%.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Wednesday, May 15th. Wedbush restated a “hold” rating and set a $70.00 price target on shares of Starbucks in a research report on Thursday, April 18th. Oppenheimer raised their price target on shares of Starbucks from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Telsey Advisory Group restated a “market perform” rating and set a $80.00 price target (up previously from $70.00) on shares of Starbucks in a research report on Monday, May 6th. Finally, BidaskClub raised shares of Starbucks from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Starbucks has an average rating of “Buy” and an average price target of $73.88.

In other news, insider John Culver sold 63,937 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $78.04, for a total value of $4,989,643.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.98% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this report on another publication, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this report can be viewed at https://www.dailypolitical.com/2019/05/20/starbucks-co-sbux-holdings-lifted-by-zurcher-kantonalbank-zurich-cantonalbank.html.

Starbucks Company Profile

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: Return On Assets

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.