Audent Global Asset Management LLC Increases Stake in Starbucks Co. (NASDAQ:SBUX)

Audent Global Asset Management LLC raised its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 488.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,928 shares of the coffee company's stock after buying an additional 20,690 shares during the quarter. Starbucks comprises about 1.5% of Audent Global Asset Management LLC's holdings, making the stock its 23rd largest position. Audent Global Asset Management LLC's holdings in Starbucks were worth $2,275,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SBUX. Capital & Planning LLC raised its position in shares of Starbucks by 40.7% in the fourth quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company's stock valued at $1,099,000 after purchasing an additional 3,483 shares during the period. Brighton Jones LLC raised its holdings in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after acquiring an additional 81,952 shares during the period. RFG Advisory LLC lifted its position in shares of Starbucks by 4.7% during the fourth quarter. RFG Advisory LLC now owns 10,524 shares of the coffee company's stock worth $960,000 after acquiring an additional 472 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Starbucks by 62.1% in the fourth quarter. Flagship Harbor Advisors LLC now owns 5,656 shares of the coffee company's stock worth $516,000 after acquiring an additional 2,167 shares during the period. Finally, First Citizens Bank & Trust Co. grew its position in shares of Starbucks by 2.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 18,617 shares of the coffee company's stock valued at $1,699,000 after purchasing an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

SBUX has been the topic of a number of recent research reports. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Citigroup decreased their target price on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group downgraded shares of Starbucks from a "buy" rating to a "neutral" rating and cut their price target for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Finally, TD Cowen reaffirmed a "hold" rating and issued a $90.00 price target on shares of Starbucks in a report on Thursday. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and a consensus target price of $97.92.

Starbucks Trading Down 0.4%

Shares of NASDAQ:SBUX traded down $0.37 during trading on Friday, reaching $83.68. 7,390,990 shares of the company traded hands, compared to its average volume of 11,119,026. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The business's fifty day moving average is $85.78 and its 200-day moving average is $95.71. The firm has a market capitalization of $95.09 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate 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 was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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 given a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.92%. Starbucks's dividend payout ratio is currently 88.41%.

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.