Vident Advisory LLC Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Vident Advisory LLC raised its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,878 shares of the coffee company's stock after purchasing an additional 4,985 shares during the quarter. Vident Advisory LLC's holdings in Starbucks were worth $7,654,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Norges Bank purchased a new position in Starbucks in the fourth quarter valued at about $1,244,812,000. Capital World Investors raised its position in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC raised its position in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Capital Research Global Investors raised its position in Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock valued at $519,230,000 after purchasing an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Starbucks in the fourth quarter valued at about $284,283,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBUX. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective on the stock in a research report on Wednesday, April 9th. Guggenheim dropped their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. StockNews.com raised Starbucks from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. UBS Group dropped their target price on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, BMO Capital Markets dropped their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $98.72.

Starbucks Stock Down 1.1%

Shares of SBUX stock opened at $84.61 on Tuesday. The business has a 50 day moving average of $87.87 and a two-hundred day moving average of $96.39. 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 $96.15 billion, a P/E ratio of 27.29, a PEG 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 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The company 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 revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm 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 is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.88%. Starbucks's dividend payout ratio is presently 88.41%.

Starbucks Company 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.

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