Jefferies Financial Group Inc. Purchases 33,500 Shares of Starbucks Co. (NASDAQ:SBUX)

Jefferies Financial Group Inc. grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 1,076.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,612 shares of the coffee company's stock after purchasing an additional 33,500 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Starbucks were worth $3,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SBUX. Capital & Planning LLC lifted its position in Starbucks by 40.7% during the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company's stock worth $1,099,000 after acquiring an additional 3,483 shares during the last quarter. Brighton Jones LLC lifted its position in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after acquiring an additional 81,952 shares during the last quarter. RFG Advisory LLC lifted its position in Starbucks by 4.7% during the 4th quarter. RFG Advisory LLC now owns 10,524 shares of the coffee company's stock worth $960,000 after acquiring an additional 472 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in Starbucks by 62.1% during the 4th 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 last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in Starbucks by 2.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 18,617 shares of the coffee company's stock worth $1,699,000 after acquiring an additional 511 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. The Goldman Sachs Group lowered shares of Starbucks from a "buy" rating to a "neutral" rating and cut their price objective for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. TD Cowen reaffirmed a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research report on Thursday. Finally, Guggenheim lowered their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Starbucks currently has a consensus rating of "Hold" and a consensus price target of $97.92.

Starbucks Stock Down 0.4%

SBUX stock traded down $0.37 during midday trading on Friday, reaching $83.68. The company's stock had a trading volume of 7,391,512 shares, compared to its average volume of 11,120,093. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market cap of $95.09 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The business's 50-day simple moving average is $85.54 and its 200-day simple moving average is $95.58.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.73% and a negative return on equity of 44.97%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the business posted $0.68 earnings per share. Starbucks's revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts forecast 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 was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.92%. Starbucks's payout ratio is presently 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.