150,000 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Bornite Capital Management LP

Bornite Capital Management LP purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 150,000 shares of the coffee company's stock, valued at approximately $13,688,000. Starbucks comprises about 1.8% of Bornite Capital Management LP's investment portfolio, making the stock its 28th biggest position.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Financial Life Planners acquired a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC bought a new position in Starbucks in the 4th quarter valued at approximately $26,000. Collier Financial acquired a new stake in Starbucks during the 4th quarter worth approximately $27,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the 4th quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks in the 4th quarter valued at approximately $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 2.6 %

SBUX stock traded down $2.10 during mid-day trading on Monday, reaching $80.00. 26,093,774 shares of the company traded hands, compared to its average volume of 11,287,284. The firm's 50 day moving average price is $105.32 and its 200 day moving average price is $99.41. The stock has a market cap of $90.87 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the business earned $0.90 EPS. On average, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company 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 yield of 3.05%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Barclays increased their price target 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 reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Robert W. Baird reissued a "neutral" rating and set a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday. Finally, BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $105.12.

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.