Northstar Financial Companies Inc. Acquires Shares of 3,852 Starbucks Co. (NASDAQ:SBUX)

Northstar Financial Companies Inc. purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,852 shares of the coffee company's stock, valued at approximately $351,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Starbucks in the fourth quarter worth $1,244,812,000. Capital World Investors grew its holdings in shares of 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 purchasing an additional 9,174,682 shares during the last quarter. FMR LLC increased its stake in shares of Starbucks by 27.0% in the fourth 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 in the last quarter. Capital Research Global Investors raised its holdings in shares of Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock valued at $519,230,000 after buying an additional 3,563,942 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $284,283,000. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 0.4%

Starbucks stock traded down $0.37 during mid-day trading on Friday, reaching $83.68. The company had a trading volume of 7,391,512 shares, compared to its average volume of 11,126,326. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market cap of $95.09 billion, a P/E ratio of 26.99, a P/E/G ratio of 3.59 and a beta of 0.99. The business has a fifty day simple moving average of $85.78 and a 200 day simple moving average of $95.71.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.92%. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered Starbucks from a "buy" rating to a "neutral" rating and cut their price target for the company from $103.00 to $85.00 in a research note on Wednesday, April 30th. BMO Capital Markets decreased their price objective on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target for the company in a report on Wednesday, April 9th. TD Cowen reaffirmed a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research report on Thursday. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $97.92.

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.