Focus Partners Advisor Solutions LLC grew its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 69.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,644 shares of the coffee company's stock after purchasing an additional 5,614 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Starbucks were worth $1,245,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new stake in Starbucks during the fourth quarter worth about $62,000. Arizona State Retirement System raised its stake in Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC acquired a new stake in Starbucks during the fourth quarter worth about $265,000. Wernau Asset Management Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $258,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $9,497,000. Institutional investors and hedge funds own 72.29% of the company's stock.
Starbucks Stock Up 1.2%
Shares of NASDAQ SBUX opened at $83.97 on Friday. The stock has a market capitalization of $95.42 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 3.59 and a beta of 0.99. The stock's fifty day simple moving average is $87.06 and its 200 day simple moving average is $96.13. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 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 firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the business posted $0.68 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.
Starbucks Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's dividend payout ratio is 88.41%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Stifel Nicolaus dropped their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note 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 on the stock in a research note on Wednesday, April 9th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $95.00 price target on shares of Starbucks in a research note on Friday, May 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $98.72.
Check Out 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.
Further Reading
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