Parr Mcknight Wealth Management Group LLC Invests $3.48 Million in Starbucks Co. (NASDAQ:SBUX)

Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,098 shares of the coffee company's stock, valued at approximately $3,476,000.

Other large investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new stake in Starbucks in the 4th quarter valued at about $62,000. Arizona State Retirement System grew its stake in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. acquired a new position in shares of Starbucks during the fourth quarter worth approximately $258,000. Finally, Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks in the 4th quarter worth $285,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on SBUX shares. 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 research note on Wednesday, April 9th. The Goldman Sachs Group cut shares of Starbucks from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. cut their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, UBS Group lowered their price objective on Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $98.72.

Starbucks Price Performance

NASDAQ SBUX traded down $1.06 during trading on Wednesday, reaching $85.95. The company's stock had a trading volume of 4,710,261 shares, compared to its average volume of 11,090,974. The firm has a fifty day moving average of $86.24 and a 200 day moving average of $95.89. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The stock has a market capitalization of $97.67 billion, a PE ratio of 27.74, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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). The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. 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 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 of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.84%. Starbucks's dividend payout ratio (DPR) 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.