Susquehanna Fundamental Investments LLC Takes $41.90 Million Position in Starbucks Co. (NASDAQ:SBUX)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 459,155 shares of the coffee company's stock, valued at approximately $41,898,000. Starbucks makes up about 0.6% of Susquehanna Fundamental Investments LLC's portfolio, making the stock its 8th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. Norges Bank purchased a new stake in Starbucks in the fourth quarter valued at about $1,244,812,000. Capital World Investors lifted its holdings in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC lifted its holdings in shares of Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Capital Research Global Investors lifted its holdings in shares of Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after purchasing an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth about $284,283,000. Institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on SBUX. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a report on Tuesday, March 18th. The Goldman Sachs Group cut Starbucks from a "buy" rating to a "neutral" rating and reduced their price target for the company from $103.00 to $85.00 in a research report on Wednesday. Stifel Nicolaus reduced their price target on Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday. Royal Bank of Canada reduced their price target on Starbucks from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Guggenheim reduced their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $98.15.

Starbucks Stock Up 1.5 %

Shares of SBUX traded up $1.23 during mid-day trading on Thursday, reaching $81.28. 8,546,054 shares of the company's stock were exchanged, compared to its average volume of 10,964,741. The company has a 50-day simple moving average of $94.45 and a two-hundred day simple moving average of $97.54. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a market cap of $92.32 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period last year, the business earned $0.68 earnings per share. The company's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 3.00%. Starbucks's payout ratio is currently 78.71%.

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.