Hurley Capital LLC Takes $823,000 Position in Starbucks Co. (NASDAQ:SBUX)

Hurley Capital LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,887 shares of the coffee company's stock, valued at approximately $823,000.

Other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in shares of Starbucks by 12.0% during the 3rd quarter. Janus Henderson Group PLC now owns 181,612 shares of the coffee company's stock valued at $17,713,000 after purchasing an additional 19,406 shares during the period. Royal London Asset Management Ltd. grew its position in Starbucks by 4.0% during the third quarter. Royal London Asset Management Ltd. now owns 468,505 shares of the coffee company's stock valued at $45,675,000 after buying an additional 17,905 shares during the period. Quantinno Capital Management LP increased its holdings in Starbucks by 36.9% during the third quarter. Quantinno Capital Management LP now owns 104,171 shares of the coffee company's stock valued at $10,156,000 after buying an additional 28,103 shares during the last quarter. Weiss Asset Management LP bought a new position in Starbucks in the third quarter worth approximately $12,086,000. Finally, Wellington Management Group LLP boosted its stake in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of SBUX traded down $3.83 during mid-day trading on Thursday, reaching $84.85. 7,974,311 shares of the company's stock traded hands, compared to its average volume of 11,413,133. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a market cap of $96.38 billion, a P/E ratio of 27.44, a P/E/G ratio of 3.59 and a beta of 1.00. The stock's 50-day moving average is $103.14 and its two-hundred day moving average is $98.92.

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Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 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 period in the prior year, the firm posted $0.90 EPS. Research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced 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 2.88%. Starbucks's dividend payout ratio is currently 78.71%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday. UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Finally, Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.12.

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.