Inkwell Capital LLC Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Inkwell Capital LLC bought a new position in Starbucks Co. (NASDAQ:SBUX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 37,872 shares of the coffee company's stock, valued at approximately $3,456,000. Starbucks makes up 3.7% of Inkwell Capital LLC's investment portfolio, making the stock its 12th largest holding.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Starbucks in the fourth quarter worth $1,244,812,000. Wellington Management Group LLP boosted its holdings in Starbucks by 100.6% in 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 buying an additional 7,598,146 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Starbucks in the fourth quarter valued at $284,283,000. Assenagon Asset Management S.A. increased its position in shares of Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company's stock valued at $256,282,000 after buying an additional 2,632,087 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Starbucks in the 3rd quarter worth approximately $126,574,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SBUX. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. UBS Group increased their target price on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Barclays lifted 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. Finally, BMO Capital Markets increased 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. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and an average price target of $106.12.

Starbucks Trading Down 11.3 %

Shares of SBUX stock traded down $11.28 during midday trading on Thursday, reaching $88.13. 12,140,586 shares of the stock were exchanged, compared to its average volume of 11,114,497. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm has a market cap of $100.11 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company's 50 day moving average is $105.84 and its two-hundred day moving average is $99.54.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business earned $0.90 EPS. As a group, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.77%. Starbucks's dividend payout ratio is currently 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.