Cinctive Capital Management LP Purchases 24,888 Shares of Starbucks Co. (NASDAQ:SBUX)

Cinctive Capital Management LP boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 45.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,616 shares of the coffee company's stock after acquiring an additional 24,888 shares during the period. Cinctive Capital Management LP's holdings in Starbucks were worth $7,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kesler Norman & Wride LLC lifted its position in Starbucks by 7.7% during the fourth quarter. Kesler Norman & Wride LLC now owns 10,133 shares of the coffee company's stock worth $925,000 after purchasing an additional 724 shares during the period. OV Management LLC boosted its position in shares of Starbucks by 9.0% during the 4th quarter. OV Management LLC now owns 22,362 shares of the coffee company's stock worth $2,041,000 after acquiring an additional 1,838 shares in the last quarter. Geode Capital Management LLC increased its stake in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after acquiring an additional 548,245 shares during the last quarter. Nemes Rush Group LLC raised its position in Starbucks by 9.2% during the fourth quarter. Nemes Rush Group LLC now owns 22,998 shares of the coffee company's stock valued at $2,099,000 after purchasing an additional 1,935 shares in the last quarter. Finally, StoneX Group Inc. bought a new stake in Starbucks during the fourth quarter worth $3,291,000. 72.29% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price target on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. UBS Group boosted their target price on Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Finally, Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research report on Tuesday, March 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $106.12.

Starbucks Stock Down 7.0 %

Starbucks stock traded down $6.16 during trading hours on Friday, reaching $82.10. 19,694,666 shares of the company's stock were exchanged, compared to its average volume of 11,211,888. The firm has a market capitalization of $93.26 billion, a PE ratio of 26.48, a PEG ratio of 3.59 and a beta of 1.00. The firm's 50 day simple moving average is $105.32 and its 200 day simple moving average is $99.36. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results 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 period in the prior year, the company earned $0.90 earnings per share. Analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's payout ratio is 78.71%.

Starbucks Company 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.