Capital Group Investment Management PTE. LTD. Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Capital Group Investment Management PTE. LTD. boosted its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,856 shares of the coffee company's stock after acquiring an additional 7,843 shares during the period. Capital Group Investment Management PTE. LTD.'s holdings in Starbucks were worth $3,546,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wedbush lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Stifel Nicolaus reduced their target price on Starbucks from $114.00 to $103.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Citigroup dropped their price target on Starbucks from $100.00 to $88.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, 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 research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $104.79.

Starbucks Stock Down 1.0 %

SBUX stock traded down $0.82 during mid-day trading on Monday, reaching $80.68. 10,592,285 shares of the company traded hands, compared to its average volume of 11,487,541. The stock has a market cap of $91.64 billion, a price-to-earnings ratio of 26.03, 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. The firm's 50 day moving average price is $99.25 and its 200 day moving average price is $98.29.

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, 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 firm posted $0.90 EPS. On average, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed 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 is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 3.02%. Starbucks's dividend payout ratio (DPR) is presently 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.