Zurich Insurance Group Ltd FI reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 64.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,460 shares of the coffee company's stock after selling 840,866 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Starbucks were worth $41,743,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vident Advisory LLC increased its stake in Starbucks by 6.3% in the fourth quarter. Vident Advisory LLC now owns 83,878 shares of the coffee company's stock valued at $7,654,000 after purchasing an additional 4,985 shares during the period. Waters Parkerson & CO. LLC increased its stake in Starbucks by 6.7% in the fourth quarter. Waters Parkerson & CO. LLC now owns 3,968 shares of the coffee company's stock valued at $362,000 after purchasing an additional 250 shares during the period. Westwood Holdings Group Inc. acquired a new position in Starbucks in the fourth quarter valued at $380,000. St. Clair Advisors LLC acquired a new position in Starbucks in the fourth quarter valued at $1,417,000. Finally, Twinbeech Capital LP acquired a new position in Starbucks in the fourth quarter valued at $368,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Price Performance
Shares of NASDAQ SBUX opened at $84.61 on Tuesday. The firm's 50-day moving average is $87.87 and its two-hundred day moving average is $96.39. The company has a market capitalization of $96.15 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. On average, analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.
Starbucks Announces Dividend
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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's dividend payout ratio is presently 88.41%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on SBUX shares. Citigroup dropped their price objective 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. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Robert W. Baird restated a "neutral" rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Barclays lowered their target price on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group lowered their target price on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Starbucks has a consensus rating of "Moderate Buy" and an average target price of $98.72.
Read Our Latest Report on SBUX
About Starbucks
(
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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