Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,470 shares of the coffee company's stock after acquiring an additional 35,983 shares during the period. Rafferty Asset Management LLC's holdings in Starbucks were worth $22,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $1,244,812,000. Capital World Investors increased its stake in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after buying an additional 9,174,682 shares during the period. FMR LLC increased its stake in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the period. Capital Research Global Investors grew its stake in shares of Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after purchasing an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Starbucks during the 4th quarter worth $284,283,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $87.26 on Friday. The business's fifty day moving average price is $88.43 and its two-hundred day moving average price is $96.58. The stock has a market capitalization of $99.16 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the company posted $0.68 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued 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 dividend yield of 2.80%. Starbucks's payout ratio is presently 88.41%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBUX. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Stifel Nicolaus reduced their target price on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a report on Wednesday, April 9th. Finally, TD Securities cut their price objective on shares of Starbucks from $102.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.72.

Starbucks 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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