NorthRock Partners LLC Buys 16,466 Shares of Starbucks Co. (NASDAQ:SBUX)

NorthRock Partners LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 174.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,902 shares of the coffee company's stock after acquiring an additional 16,466 shares during the quarter. NorthRock Partners LLC's holdings in Starbucks were worth $2,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aprio Wealth Management LLC increased its holdings in Starbucks by 23.4% in the 4th quarter. Aprio Wealth Management LLC now owns 3,077 shares of the coffee company's stock worth $281,000 after buying an additional 584 shares in the last quarter. Matrix Trust Co increased its holdings in Starbucks by 605.3% in the 4th quarter. Matrix Trust Co now owns 1,065 shares of the coffee company's stock worth $97,000 after buying an additional 914 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in Starbucks by 17.6% in the 4th quarter. Capital Investment Advisors LLC now owns 18,313 shares of the coffee company's stock worth $1,671,000 after buying an additional 2,744 shares in the last quarter. Wedmont Private Capital increased its holdings in Starbucks by 1.6% in the 4th quarter. Wedmont Private Capital now owns 13,512 shares of the coffee company's stock worth $1,246,000 after buying an additional 212 shares in the last quarter. Finally, Signet Financial Management LLC bought a new stake in Starbucks in the 4th quarter worth about $661,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group downgraded Starbucks from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. Citigroup cut their price target on Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company cut their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $95.00 price target on shares of Starbucks in a research note on Friday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.72.

Starbucks Stock Down 1.9%

NASDAQ SBUX traded down $1.69 during trading hours on Friday, reaching $85.57. The company's stock had a trading volume of 13,093,429 shares, compared to its average volume of 11,223,063. The firm's 50-day moving average price is $88.15 and its 200-day moving average price is $96.50. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company has a market capitalization of $97.24 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations 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 period last year, the company earned $0.68 earnings per share. Equities research analysts anticipate 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. Stockholders 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 annualized dividend and a dividend yield of 2.85%. Starbucks's dividend payout ratio (DPR) is 88.41%.

About Starbucks

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.