Legal & General Group Plc lowered its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 21.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,753,247 shares of the coffee company's stock after selling 1,826,335 shares during the quarter. Legal & General Group Plc owned 0.59% of Starbucks worth $616,234,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Headinvest LLC acquired a new position in Starbucks during the 3rd quarter worth approximately $222,000. Nomura Asset Management Co. Ltd. raised its position in shares of Starbucks by 7.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 385,048 shares of the coffee company's stock worth $37,538,000 after purchasing an additional 26,672 shares during the period. Hamilton Capital LLC bought a new position in shares of Starbucks in the 3rd quarter worth $247,000. Drucker Wealth 3.0 LLC increased its stake in Starbucks by 7.2% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 47,911 shares of the coffee company's stock valued at $4,671,000 after purchasing an additional 3,219 shares in the last quarter. Finally, PYA Waltman Capital LLC lifted its stake in shares of Starbucks by 6.9% in the third quarter. PYA Waltman Capital LLC now owns 9,966 shares of the coffee company's stock valued at $972,000 after buying an additional 647 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.
Starbucks Price Performance
NASDAQ SBUX traded up $0.83 during trading on Friday, reaching $85.43. The company's stock had a trading volume of 10,058,643 shares, compared to its average volume of 11,484,683. The firm has a fifty day moving average of $102.16 and a 200 day moving average of $98.79. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The stock has a market capitalization of $97.04 billion, a PE ratio of 27.56, a P/E/G ratio of 3.59 and a beta of 1.00.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the business earned $0.90 EPS. Research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
Starbucks Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.86%. Starbucks's dividend payout ratio (DPR) is presently 78.71%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on SBUX shares. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Royal Bank of Canada restated an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target for the company in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of "Moderate Buy" and an average target price of $104.68.
Check Out Our Latest Stock 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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