Kovitz Investment Group Partners LLC Has $104.45 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Kovitz Investment Group Partners LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 991.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,144,661 shares of the coffee company's stock after acquiring an additional 1,039,744 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.10% of Starbucks worth $104,450,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in SBUX. Invst LLC grew its stake in shares of Starbucks by 1.9% in the 3rd quarter. Invst LLC now owns 20,767 shares of the coffee company's stock valued at $2,025,000 after purchasing an additional 395 shares during the period. Tudor Financial Inc. acquired a new position in Starbucks during the third quarter worth $1,352,000. Fulcrum Equity Management lifted its holdings in shares of Starbucks by 38.8% during the third quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company's stock valued at $402,000 after acquiring an additional 1,151 shares during the period. Sculati Wealth Management LLC boosted its stake in shares of Starbucks by 15.1% in the 3rd quarter. Sculati Wealth Management LLC now owns 10,291 shares of the coffee company's stock valued at $940,000 after purchasing an additional 1,350 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of Starbucks by 1,941.0% in the 3rd quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company's stock worth $6,950,000 after purchasing an additional 67,799 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

NASDAQ:SBUX traded down $0.05 during mid-day trading on Friday, hitting $83.81. The company had a trading volume of 5,797,788 shares, compared to its average volume of 11,518,129. 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 $95.20 billion, a P/E ratio of 27.04, a P/E/G ratio of 3.59 and a beta of 1.00. The business's fifty day moving average is $96.22 and its two-hundred day moving average is $97.80.

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 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 business posted $0.90 EPS. Equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is 78.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Robert W. Baird restated a "neutral" rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an "outperform" rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Finally, Stifel Nicolaus lowered their target price on Starbucks from $114.00 to $103.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $103.00.

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.