MetLife Investment Management LLC Acquires 4,070 Shares of Starbucks Co. (NASDAQ:SBUX)

MetLife Investment Management LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 338,777 shares of the coffee company's stock after purchasing an additional 4,070 shares during the period. MetLife Investment Management LLC's holdings in Starbucks were worth $30,913,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SBUX. Strategic Financial Concepts LLC acquired a new stake in shares of Starbucks during the 4th quarter worth about $62,000. Arizona State Retirement System grew its position in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after acquiring an additional 2,722 shares during the last quarter. West Michigan Advisors LLC acquired a new stake in Starbucks during the 4th quarter valued at $265,000. Wernau Asset Management Inc. acquired a new position in Starbucks in the fourth quarter worth $258,000. Finally, OFI Invest Asset Management bought a new stake in shares of Starbucks during the fourth quarter worth $9,497,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Starbucks stock traded up $1.05 during midday trading on Wednesday, reaching $82.80. 9,109,721 shares of the company's stock were exchanged, compared to its average volume of 11,508,282. The stock's 50-day simple moving average is $97.97 and its 200 day simple moving average is $98.06. The firm has a market cap of $94.06 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

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

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is currently 78.71%.

Analyst Ratings Changes

A number of brokerages have weighed in on SBUX. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Stifel Nicolaus cut their price target on Starbucks from $114.00 to $103.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company cut their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.00.

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.