Parallel Advisors LLC boosted its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 228.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,856 shares of the coffee company's stock after buying an additional 76,451 shares during the quarter. Parallel Advisors LLC's holdings in Starbucks were worth $10,776,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capital & Planning LLC grew its stake in shares of Starbucks by 40.7% in the fourth 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 grew its position in Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Mayflower Financial Advisors LLC grew its position in Starbucks by 26.4% in the 4th quarter. Mayflower Financial Advisors LLC now owns 2,828 shares of the coffee company's stock worth $258,000 after purchasing an additional 590 shares during the last quarter. R Squared Ltd acquired a new stake in Starbucks in the 4th quarter worth $172,000. Finally, Hantz Financial Services Inc. grew its position in Starbucks by 5.0% in the 4th quarter. Hantz Financial Services Inc. now owns 79,927 shares of the coffee company's stock worth $7,293,000 after purchasing an additional 3,791 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Price Performance
NASDAQ:SBUX traded down $0.37 on Friday, hitting $83.68. 7,391,512 shares of the company's stock were exchanged, 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 company has a market cap of $95.09 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm has a 50-day moving average price of $85.54 and a 200-day moving average price of $95.60.
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 negative return on equity of 44.97% and a net margin of 9.73%. The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
Starbucks Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.61 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.92%. Starbucks's payout ratio is 88.41%.
Analyst Ratings Changes
A number of research firms recently weighed in on SBUX. Wall Street Zen downgraded Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Wells Fargo & Company decreased 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. Barclays decreased their price target on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Citigroup decreased their price target on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and an average target price of $97.92.
View Our Latest Report on Starbucks
Starbucks Company Profile
(
Free Report)
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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