Cercano Management LLC Grows Position in Starbucks Co. (NASDAQ:SBUX)

Cercano Management LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 9,873.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,208 shares of the coffee company's stock after purchasing an additional 294,228 shares during the period. Cercano Management LLC's holdings in Starbucks were worth $27,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cantor Fitzgerald L. P. acquired a new stake in shares of Starbucks during the fourth quarter worth about $203,000. Captrust Financial Advisors boosted its position in Starbucks by 1.9% in the 4th quarter. Captrust Financial Advisors now owns 142,621 shares of the coffee company's stock valued at $13,014,000 after buying an additional 2,670 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of Starbucks in the fourth quarter worth $1,283,000. Chapman Financial Group LLC purchased a new stake in shares of Starbucks during the fourth quarter worth $1,154,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Starbucks in the fourth quarter valued at $131,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SBUX shares. Royal Bank of Canada reduced their price target on Starbucks from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. StockNews.com cut shares of Starbucks from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. TD Securities lowered their price target on shares of Starbucks from $102.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Robert W. Baird restated a "neutral" rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Finally, Stifel Nicolaus lowered their target price on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of "Hold" and an average target price of $98.72.

Starbucks Stock Performance

SBUX stock traded down $1.89 during trading on Friday, reaching $80.30. 8,200,239 shares of the company were exchanged, compared to its average volume of 11,179,231. 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 $91.25 billion, a P/E ratio of 25.90, a PEG ratio of 3.59 and a beta of 0.99. The stock's 50 day moving average price is $90.64 and its 200 day moving average price is $97.00.

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

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is 88.41%.

Starbucks 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.