Lighthouse Investment Partners LLC raised its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 302.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,000 shares of the coffee company's stock after acquiring an additional 243,417 shares during the period. Starbucks makes up 1.0% of Lighthouse Investment Partners LLC's portfolio, making the stock its 13th biggest holding. Lighthouse Investment Partners LLC's holdings in Starbucks were worth $29,565,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new stake in shares of Starbucks in the fourth quarter valued at about $62,000. Arizona State Retirement System lifted its stake 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 valued at $29,881,000 after buying an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new stake in shares of Starbucks in the fourth quarter valued at about $265,000. Wernau Asset Management Inc. bought a new stake in shares of Starbucks in the fourth quarter valued at about $258,000. Finally, OFI Invest Asset Management bought a new stake in shares of Starbucks in the fourth quarter valued at about $9,497,000. 72.29% of the stock is currently owned by institutional investors.
Starbucks Stock Performance
Shares of NASDAQ SBUX traded down $0.34 during mid-day trading on Wednesday, hitting $86.54. 12,736,326 shares of the stock were exchanged, compared to its average volume of 11,194,074. The company 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. The stock's fifty day simple moving average is $88.71 and its two-hundred day simple moving average is $96.66. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 EPS. As a group, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
Starbucks Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio is currently 88.41%.
Analysts Set New Price Targets
SBUX has been the subject of several research reports. Wells Fargo & Company reduced their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Citigroup dropped their price target on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Royal Bank of Canada dropped their price target on shares of Starbucks from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, TD Securities dropped their price target on shares of Starbucks from $102.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $98.72.
Read Our Latest Stock Analysis on SBUX
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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