Perennial Advisors LLC Invests $4.68 Million in Starbucks Co. (NASDAQ:SBUX)

Perennial Advisors 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 13F filing with the SEC. The firm purchased 51,263 shares of the coffee company's stock, valued at approximately $4,678,000.

Several other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Collier Financial bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SBUX shares. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. BMO Capital Markets lowered their price objective on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Citigroup lowered their price objective on Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group cut Starbucks from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of "Hold" and an average target price of $98.72.

Starbucks Stock Performance

NASDAQ SBUX traded down $1.01 on Wednesday, reaching $86.00. 12,305,846 shares of the stock traded hands, compared to its average volume of 11,129,724. The company has a fifty day moving average price of $86.24 and a 200-day moving average price of $95.89. The company has a market cap of $97.73 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

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

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, May 16th. Starbucks's payout ratio 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.