FIL Ltd raised its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 19.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,088,609 shares of the coffee company's stock after acquiring an additional 175,294 shares during the period. FIL Ltd owned approximately 0.10% of Starbucks worth $99,336,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Executive Wealth Management LLC bought a new stake in Starbucks in the third quarter worth about $334,000. Vestcor Inc lifted its holdings in Starbucks by 5.0% during the 3rd quarter. Vestcor Inc now owns 22,316 shares of the coffee company's stock worth $2,176,000 after purchasing an additional 1,054 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in Starbucks in the 3rd quarter worth approximately $549,000. Prestige Wealth Management Group LLC boosted its position in shares of Starbucks by 61.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 726 shares of the coffee company's stock valued at $71,000 after acquiring an additional 275 shares during the last quarter. Finally, Financial Avengers Inc. raised its position in shares of Starbucks by 10.0% during the 3rd quarter. Financial Avengers Inc. now owns 41,761 shares of the coffee company's stock valued at $4,071,000 after buying an additional 3,809 shares in the last quarter. Institutional investors own 72.29% of the company's stock.
Starbucks Stock Down 1.5 %
SBUX stock traded down $1.29 during midday trading on Tuesday, hitting $84.20. The company's stock had a trading volume of 2,183,943 shares, compared to its average volume of 11,437,840. The firm has a market capitalization of $95.64 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a 50 day moving average of $101.63 and a two-hundred day moving average of $98.70.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company posted $0.90 EPS. On average, analysts anticipate that Starbucks Co. will post 2.99 earnings per share 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 given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.90%. Starbucks's dividend payout ratio (DPR) is currently 78.71%.
Wall Street Analyst Weigh In
SBUX has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Stifel Nicolaus dropped their price target on Starbucks from $114.00 to $103.00 and set a "buy" rating for the company in a research note on Tuesday. BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of "Moderate Buy" and an average target price of $104.24.
Get Our Latest Research Report on Starbucks
About Starbucks
(
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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