Boothbay Fund Management LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 61.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,252 shares of the coffee company's stock after selling 41,515 shares during the period. Boothbay Fund Management LLC's holdings in Starbucks were worth $2,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $62,000. Arizona State Retirement System boosted its stake in Starbucks by 0.8% during 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 last quarter. West Michigan Advisors LLC purchased a new position in Starbucks during the 4th quarter valued at approximately $265,000. Wernau Asset Management Inc. bought a new stake in Starbucks in the 4th quarter worth approximately $258,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $9,497,000. Hedge funds and other institutional investors own 72.29% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on SBUX. Wells Fargo & Company reduced their price target on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird restated a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Wedbush boosted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Barclays lowered their price objective on Starbucks from $124.00 to $106.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, UBS Group boosted their target price on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $103.00.
Check Out Our Latest Stock Report on Starbucks
Starbucks Stock Down 0.1 %
Shares of SBUX stock opened at $83.81 on Monday. The firm has a market cap of $95.20 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company's 50 day moving average is $96.22 and its 200 day moving average is $97.83.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 quarter in the previous year, the company posted $0.90 earnings per share. Analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.
Starbucks Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.91%. Starbucks's dividend payout ratio (DPR) is 78.71%.
Starbucks 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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