New Age Alpha Advisors LLC Makes New $2.96 Million Investment in Starbucks Corporation (NASDAQ:SBUX)

New Age Alpha Advisors LLC acquired a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,149 shares of the coffee company's stock, valued at approximately $2,957,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Capital World Investors boosted its position in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the last quarter. Northern Trust Corp grew its stake in Starbucks by 4.6% during the fourth quarter. Northern Trust Corp now owns 13,573,337 shares of the coffee company's stock worth $1,238,567,000 after buying an additional 600,151 shares during the period. Capital International Investors raised its position in Starbucks by 2.7% in the fourth quarter. Capital International Investors now owns 10,191,918 shares of the coffee company's stock valued at $929,898,000 after purchasing an additional 267,736 shares during the period. Jennison Associates LLC acquired a new position in Starbucks during the 1st quarter worth approximately $817,759,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Starbucks by 25.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,893,188 shares of the coffee company's stock valued at $720,253,000 after purchasing an additional 1,599,140 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Ratings Changes

SBUX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company lifted their price target on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Stifel Nicolaus increased their target price on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, CICC Research began coverage on shares of Starbucks in a report on Monday, June 30th. They set an "outperform" rating and a $100.00 price target on the stock. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $101.27.

Starbucks Trading Down 1.3%

NASDAQ SBUX opened at $88.99 on Thursday. Starbucks Corporation has a 12 month low of $74.75 and a 12 month high of $117.46. The company has a market capitalization of $101.15 billion, a PE ratio of 38.36, a P/E/G ratio of 5.14 and a beta of 1.02. The stock has a 50-day simple moving average of $91.96 and a 200 day simple moving average of $94.48.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. The business's revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.7%. Starbucks's dividend payout ratio is currently 105.17%.

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.

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