Minot DeBlois Advisors LLC Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Minot DeBlois Advisors LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,762 shares of the coffee company's stock, valued at approximately $617,000.

Several other institutional investors also recently modified their holdings of SBUX. Strategic Financial Concepts LLC bought a new stake in Starbucks during the 4th quarter valued at about $62,000. Arizona State Retirement System boosted its holdings in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC purchased a new position in shares of Starbucks in the fourth quarter worth approximately $265,000. Wernau Asset Management Inc. purchased a new position in shares of Starbucks in the fourth quarter worth approximately $258,000. Finally, OFI Invest Asset Management purchased a new position in Starbucks during the fourth quarter valued at approximately $9,497,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SBUX. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price target on shares of Starbucks in a report on Friday. The Goldman Sachs Group downgraded shares of Starbucks from a "buy" rating to a "neutral" rating and lowered their price target for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. StockNews.com raised shares of Starbucks from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $98.72.

Starbucks Stock Performance

Starbucks stock traded down $1.69 during midday trading on Friday, hitting $85.57. 13,093,429 shares of the company's stock were exchanged, compared to its average volume of 11,223,063. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a 50-day moving average of $88.43 and a two-hundred day moving average of $96.58. The company has a market cap of $97.24 billion, a PE ratio of 27.60, a P/E/G 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, May 16th. Starbucks's payout ratio 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.