Capital World Investors Raises Position in Starbucks Co. (NASDAQ:SBUX)

Capital World Investors increased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 20.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,924,230 shares of the coffee company's stock after purchasing an additional 9,174,682 shares during the quarter. Starbucks accounts for 0.8% of Capital World Investors' holdings, making the stock its 29th largest holding. Capital World Investors owned about 4.84% of Starbucks worth $5,011,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SBUX. Invst LLC grew its stake in shares of Starbucks by 1.9% during the third 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. purchased a new position in shares of Starbucks in the 3rd quarter valued at about $1,352,000. Fulcrum Equity Management raised its position in shares of Starbucks by 38.8% during the 3rd quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company's stock worth $402,000 after acquiring an additional 1,151 shares in the last quarter. Sculati Wealth Management LLC lifted its stake in Starbucks by 15.1% during the third quarter. Sculati Wealth Management LLC now owns 10,291 shares of the coffee company's stock worth $940,000 after purchasing an additional 1,350 shares during the last quarter. Finally, World Investment Advisors LLC increased its stake in Starbucks by 1,941.0% in the third quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company's stock valued at $6,950,000 after purchasing an additional 67,799 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Ratings Changes

SBUX has been the topic of several research reports. Stifel Nicolaus dropped their price objective on Starbucks from $114.00 to $103.00 and set a "buy" rating on the stock in a report on Tuesday. Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Citigroup dropped their price objective on shares of Starbucks from $100.00 to $88.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $104.24.

Starbucks Stock Up 0.9 %

Shares of Starbucks stock opened at $81.50 on Friday. The business has a 50-day moving average price of $99.25 and a 200 day moving average price of $98.26. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market cap of $92.58 billion, a P/E ratio of 26.29, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 business earned $0.90 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders 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 dividend yield of 2.99%. Starbucks's dividend payout ratio (DPR) is presently 78.71%.

About Starbucks

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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