KLP Kapitalforvaltning AS Has $38.53 Million Holdings in Starbucks Corporation (NASDAQ:SBUX)

KLP Kapitalforvaltning AS boosted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 392,773 shares of the coffee company's stock after purchasing an additional 10,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Starbucks were worth $38,527,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Capital World Investors grew its holdings in Starbucks by 20.1% in 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 last quarter. FMR LLC boosted its stake in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC boosted its stake in Starbucks by 2.3% in 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 buying an additional 548,245 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after purchasing an additional 718,880 shares during the period. Finally, Norges Bank purchased a new position in shares of Starbucks in the 4th quarter worth about $1,244,812,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 2.3%

Starbucks stock traded down $2.22 during mid-day trading on Thursday, hitting $93.70. 7,893,405 shares of the company's stock were exchanged, compared to its average volume of 10,310,217. The firm has a market capitalization of $106.48 billion, a P/E ratio of 33.95, a PEG ratio of 6.69 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $72.72 and a fifty-two week high of $117.46. The company's 50 day simple moving average is $90.74 and its 200-day simple moving average is $94.62.

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

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio is currently 88.41%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SBUX. Wells Fargo & Company dropped their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Citigroup restated a "neutral" rating and issued a $100.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Monday, July 14th. BMO Capital Markets cut their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target on the stock. in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $98.58.

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.