Renaissance Technologies LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 369,784 shares of the coffee company's stock, valued at approximately $33,743,000.
Other large investors also recently added to or reduced their stakes in the company. FIL Ltd grew its stake in Starbucks by 19.2% in the fourth quarter. FIL Ltd now owns 1,088,609 shares of the coffee company's stock valued at $99,336,000 after purchasing an additional 175,294 shares during the last quarter. Elgethun Capital Management lifted its holdings in shares of Starbucks by 17.7% during the 4th quarter. Elgethun Capital Management now owns 1,311 shares of the coffee company's stock valued at $120,000 after purchasing an additional 197 shares during the last quarter. Twin Capital Management Inc. boosted its position in shares of Starbucks by 59.9% in the 4th quarter. Twin Capital Management Inc. now owns 6,974 shares of the coffee company's stock worth $636,000 after purchasing an additional 2,613 shares in the last quarter. Invesco Ltd. grew its stake in Starbucks by 9.0% during the 4th quarter. Invesco Ltd. now owns 11,457,981 shares of the coffee company's stock worth $1,045,541,000 after buying an additional 944,897 shares during the last quarter. Finally, Sierra Summit Advisors LLC acquired a new position in Starbucks during the 4th quarter valued at about $903,000. 72.29% of the stock is owned by hedge funds and other institutional investors.
Starbucks Trading Up 1.5 %
NASDAQ:SBUX traded up $1.23 during trading hours on Thursday, hitting $81.99. The company's stock had a trading volume of 3,633,532 shares, compared to its average volume of 11,453,564. The stock has a fifty day moving average of $100.44 and a 200-day moving average of $98.48. The stock has a market capitalization of $93.13 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts forecast 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. Investors of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.98%. Starbucks's dividend payout ratio is presently 78.71%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on SBUX shares. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Barclays upped their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a research report on Wednesday, April 9th. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Finally, Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $104.24.
Check Out Our Latest Analysis on Starbucks
Starbucks Company 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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