Y Intercept Hong Kong Ltd Increases Stake in Starbucks Corporation (NASDAQ:SBUX)

Y Intercept Hong Kong Ltd boosted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 450.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,480 shares of the coffee company's stock after buying an additional 19,213 shares during the period. Y Intercept Hong Kong Ltd's holdings in Starbucks were worth $2,303,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $26,000. Hughes Financial Services LLC acquired a new position in Starbucks in the first quarter valued at approximately $27,000. Kapitalo Investimentos Ltda acquired a new position in Starbucks in the fourth quarter valued at approximately $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in Starbucks in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Citigroup reissued a "neutral" rating and issued a $100.00 price target (up from $95.00) on shares of Starbucks in a report on Monday, July 14th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. CICC Research started coverage on Starbucks in a research note on Monday, June 30th. They set an "outperform" rating and a $100.00 target price for the company. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $98.58.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.72 during mid-day trading on Friday, reaching $94.42. 7,219,553 shares of the company's stock were exchanged, compared to its average volume of 7,933,794. The firm has a market capitalization of $107.30 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 6.55 and a beta of 1.02. Starbucks Corporation has a 52-week low of $72.72 and a 52-week high of $117.46. The company's 50-day moving average is $91.05 and its 200-day moving average is $94.65.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results 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). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is 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.