Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 153.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,850 shares of the coffee company's stock after buying an additional 153,078 shares during the period. Mackenzie Financial Corp's holdings in Starbucks were worth $23,073,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after purchasing an additional 784,432 shares during the period. Capital World Investors grew its stake in shares of 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 buying an additional 9,174,682 shares in the last quarter. FMR LLC raised its holdings in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the period. Geode Capital Management LLC lifted its position in Starbucks by 2.3% during 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 acquiring an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 718,880 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SBUX shares. Barclays decreased their target price on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Cowen downgraded Starbucks from a "buy" rating to a "hold" rating in a report on Thursday. Citigroup dropped their price objective on Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, Stifel Nicolaus reduced their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $97.92.

Starbucks Trading Down 0.4%

Starbucks stock traded down $0.37 during midday trading on Friday, reaching $83.68. 7,391,512 shares of the stock traded hands, compared to its average volume of 11,120,093. The firm has a fifty day moving average price of $85.54 and a two-hundred day moving average price of $95.58. The firm has a market cap of $95.09 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results 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 business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the firm earned $0.68 EPS. The firm's revenue was up 2.3% on a year-over-year basis. Analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given 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 dividend 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.