Curat Global LLC Takes Position in Starbucks Co. (NASDAQ:SBUX)

Curat Global LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,170 shares of the coffee company's stock, valued at approximately $801,000. Starbucks accounts for 1.0% of Curat Global LLC's investment portfolio, making the stock its 29th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. Strategic Financial Concepts LLC bought a new position in shares of Starbucks during the fourth quarter worth approximately $62,000. Arizona State Retirement System increased its stake in shares of Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new position in shares of Starbucks during the fourth quarter worth approximately $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks during the fourth quarter worth approximately $258,000. Finally, Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks during the fourth quarter worth approximately $285,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Guggenheim lowered their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Cowen lowered Starbucks from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Barclays lowered their price objective on Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Citigroup lowered their price objective on Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $97.92.

Starbucks Price Performance

Shares of NASDAQ SBUX traded up $2.65 during mid-day trading on Friday, hitting $89.64. 8,771,082 shares of the stock traded hands, compared to its average volume of 11,064,523. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market cap of $101.87 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm has a 50 day simple moving average of $84.63 and a two-hundred day simple moving average of $95.25.

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). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the business earned $0.68 EPS. The company's revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Friday, May 16th. Starbucks's dividend payout ratio (DPR) is 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.