Bridgewater Advisors Inc. Takes Position in Starbucks Corporation (NASDAQ:SBUX)

Bridgewater Advisors Inc. acquired a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,317 shares of the coffee company's stock, valued at approximately $914,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares during the last quarter. Capital World Investors lifted its position in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC boosted its holdings in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC grew its position in Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after purchasing an additional 548,245 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after buying an additional 718,880 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SBUX shares. Robert W. Baird restated a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Wells Fargo & Company decreased their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Stifel Nicolaus lifted their target price on shares of Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $98.92.

Starbucks Stock Up 0.0%

Shares of Starbucks stock traded up $0.03 during trading hours on Wednesday, reaching $92.51. 7,135,477 shares of the company's stock were exchanged, compared to its average volume of 10,816,074. The business has a fifty day moving average of $89.53 and a two-hundred day moving average of $94.53. The company has a market capitalization of $105.13 billion, a P/E ratio of 33.52, a price-to-earnings-growth ratio of 4.78 and a beta of 1.02. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The firm's revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.64%. Starbucks's dividend payout ratio (DPR) is currently 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.