Arrow Capital Pty Ltd acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 32,584 shares of the coffee company's stock, valued at approximately $2,973,000. Starbucks comprises approximately 2.7% of Arrow Capital Pty Ltd's investment portfolio, making the stock its 17th biggest holding.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in Starbucks during the fourth quarter worth $25,000. Graney & King LLC acquired a new position in Starbucks during the fourth quarter worth approximately $26,000. Collier Financial purchased a new stake in shares of Starbucks during the 4th quarter worth about $27,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the fourth quarter valued at about $27,000. Finally, Marshall Investment Management LLC purchased a new position in Starbucks in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company's stock.
Starbucks Trading Up 2.8 %
SBUX traded up $2.27 during midday trading on Tuesday, reaching $82.95. The company's stock had a trading volume of 3,470,776 shares, compared to its average volume of 11,456,645. The company has a fifty day simple moving average of $98.60 and a 200 day simple moving average of $98.18. The stock has a market cap of $94.22 billion, a P/E ratio of 26.78, a PEG ratio of 3.59 and a beta of 1.00. 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 released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the company earned $0.90 earnings per share. Sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.
Starbucks Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given 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 2.94%. Starbucks's dividend payout ratio (DPR) is presently 78.71%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SBUX. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Wedbush increased their price objective on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Stifel Nicolaus decreased their price objective on shares of Starbucks from $114.00 to $103.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. BMO Capital Markets boosted their target price on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.75.
Read Our Latest Research Report 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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