Lazard Asset Management LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 37.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,756,335 shares of the coffee company's stock after buying an additional 478,939 shares during the quarter. Lazard Asset Management LLC owned about 0.15% of Starbucks worth $160,264,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. ORG Partners LLC increased its holdings in Starbucks by 12.2% in the fourth quarter. ORG Partners LLC now owns 1,864 shares of the coffee company's stock valued at $170,000 after buying an additional 202 shares in the last quarter. Czech National Bank grew its holdings in shares of Starbucks by 6.5% in the 4th quarter. Czech National Bank now owns 245,766 shares of the coffee company's stock worth $22,426,000 after acquiring an additional 14,921 shares during the period. Aprio Wealth Management LLC increased its stake in Starbucks by 23.4% in the 4th quarter. Aprio Wealth Management LLC now owns 3,077 shares of the coffee company's stock valued at $281,000 after purchasing an additional 584 shares in the last quarter. Matrix Trust Co raised its holdings in Starbucks by 605.3% during the fourth quarter. Matrix Trust Co now owns 1,065 shares of the coffee company's stock worth $97,000 after purchasing an additional 914 shares during the last quarter. Finally, Clark & Stuart Inc purchased a new stake in Starbucks during the fourth quarter worth $507,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
SBUX has been the topic of several recent research reports. Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. StockNews.com raised shares of Starbucks from a "sell" rating to a "hold" rating in a report on Saturday. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Guggenheim cut their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, TD Securities dropped their price target on Starbucks from $102.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, Starbucks currently has an average rating of "Moderate Buy" and a consensus price target of $98.72.
View Our Latest Stock Report on SBUX
Starbucks Trading Down 0.4%
Shares of NASDAQ:SBUX traded down $0.34 during trading on Wednesday, hitting $86.54. 12,736,326 shares of the company's stock were exchanged, compared to its average volume of 11,194,074. The firm has a 50-day moving average price of $88.71 and a two-hundred day moving average price of $96.66. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The firm has a market cap of $98.34 billion, a P/E ratio of 27.92, a PEG ratio of 3.59 and a beta of 0.99.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the firm earned $0.68 EPS. Starbucks's quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.
Starbucks Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's payout ratio is 88.41%.
Starbucks 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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