St. Clair Advisors LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 15,534 shares of the coffee company's stock, valued at approximately $1,417,000.
A number of other large investors have also made changes to their positions in SBUX. Financial Life Planners acquired a new stake in shares of Starbucks during the fourth quarter valued at $25,000. Graney & King LLC acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $26,000. Collier Financial purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks during the fourth quarter worth approximately $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 72.29% of the company's stock.
Starbucks Stock Up 1.2%
Shares of SBUX traded up $0.99 during mid-day trading on Thursday, reaching $83.97. 8,438,171 shares of the stock traded hands, compared to its average volume of 11,149,403. The stock has a fifty day simple moving average of $87.36 and a 200 day simple moving average of $96.22. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a market cap of $95.42 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 3.59 and a beta of 0.99.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results 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 net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the company posted $0.68 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
Starbucks Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid 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 yield of 2.91%. Starbucks's payout ratio is 88.41%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on SBUX shares. TD Securities reduced their price target on Starbucks from $102.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a research report on Wednesday, April 9th. Guggenheim decreased their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Starbucks in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $98.72.
Read Our Latest Stock Analysis on SBUX
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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