Arrowstreet Capital Limited Partnership Invests $602,000 in Starbucks Co. (NASDAQ:SBUX)

Arrowstreet Capital Limited Partnership acquired a new stake in Starbucks Co. (NASDAQ:SBUX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,602 shares of the coffee company's stock, valued at approximately $602,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Invst LLC grew its holdings in shares of Starbucks by 1.9% during the 3rd quarter. Invst LLC now owns 20,767 shares of the coffee company's stock worth $2,025,000 after purchasing an additional 395 shares in the last quarter. Tudor Financial Inc. bought a new stake in Starbucks during the third quarter worth about $1,352,000. Fulcrum Equity Management grew its stake in Starbucks by 38.8% during the third quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company's stock worth $402,000 after buying an additional 1,151 shares in the last quarter. Sculati Wealth Management LLC increased its holdings in Starbucks by 15.1% in the 3rd quarter. Sculati Wealth Management LLC now owns 10,291 shares of the coffee company's stock valued at $940,000 after buying an additional 1,350 shares during the period. Finally, World Investment Advisors LLC lifted its holdings in shares of Starbucks by 1,941.0% during the 3rd quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company's stock worth $6,950,000 after acquiring an additional 67,799 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

Starbucks stock traded up $0.88 during midday trading on Thursday, hitting $81.64. 2,474,436 shares of the company's stock were exchanged, compared to its average volume of 11,445,902. The company has a market cap of $92.73 billion, a P/E ratio of 26.36, a PEG ratio of 3.59 and a beta of 1.00. The stock has a 50-day moving average price of $100.44 and a two-hundred day moving average price of $98.48. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

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Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $0.90 earnings per share. As a group, sell-side analysts expect 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. Shareholders of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.99%. Starbucks's payout ratio is 78.71%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SBUX shares. Citigroup lowered their price objective on shares of Starbucks from $100.00 to $88.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Royal Bank of Canada reissued an "outperform" rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus reduced their price objective on Starbucks from $114.00 to $103.00 and set a "buy" rating on the stock in a research note on Tuesday. UBS Group boosted their target price on Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Finally, Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $104.24.

Starbucks Company 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.