Aviva PLC Has $62.29 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Aviva PLC reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 19.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 682,602 shares of the coffee company's stock after selling 162,707 shares during the quarter. Aviva PLC owned 0.06% of Starbucks worth $62,287,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SBUX. Norges Bank acquired a new stake in Starbucks in the 4th quarter valued at $1,244,812,000. Raymond James Financial Inc. purchased a new stake in shares of Starbucks in the fourth quarter worth about $284,283,000. Assenagon Asset Management S.A. grew its stake in shares of Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company's stock valued at $256,282,000 after buying an additional 2,632,087 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Starbucks during the 3rd quarter valued at about $126,574,000. Finally, Vanguard Group Inc. lifted its position in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after acquiring an additional 784,432 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective on the stock in a report on Wednesday. Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Finally, Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Two research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $105.12.

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Starbucks Trading Down 1.5 %

Shares of SBUX traded down $1.30 during midday trading on Friday, hitting $83.30. The stock had a trading volume of 2,745,652 shares, compared to its average volume of 11,427,042. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The business has a 50-day simple moving average of $102.66 and a two-hundred day simple moving average of $98.85. The firm has a market cap of $94.62 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the company earned $0.90 earnings per share. On average, analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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 dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio is currently 78.71%.

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.