BridgePort Financial Solutions LLC Takes $668,000 Position in Starbucks Co. (NASDAQ:SBUX)

BridgePort Financial Solutions LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,323 shares of the coffee company's stock, valued at approximately $668,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new stake in shares of Starbucks in the fourth quarter valued at about $62,000. Arizona State Retirement System boosted its position in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new stake in shares of Starbucks in the fourth quarter valued at about $265,000. Wernau Asset Management Inc. bought a new stake in shares of Starbucks in the fourth quarter valued at about $258,000. Finally, Vanguard Capital Wealth Advisors bought a new stake in shares of Starbucks in the fourth quarter valued at about $285,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent analyst reports. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. Citigroup lowered their target price on Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. The Goldman Sachs Group downgraded Starbucks from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $103.00 to $85.00 in a research note on Wednesday, April 30th. Finally, BMO Capital Markets lowered their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $97.92.

Starbucks Price Performance

Shares of Starbucks stock traded down $1.95 during trading on Thursday, reaching $84.05. 10,305,423 shares of the company traded hands, compared to its average volume of 11,133,895. The firm has a market capitalization of $95.51 billion, a PE ratio of 27.11, a P/E/G ratio of 3.59 and a beta of 0.99. The company has a 50 day moving average price of $86.02 and a 200-day moving average price of $95.82. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) 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 firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. Starbucks's revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's dividend payout ratio is currently 88.41%.

About Starbucks

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.