OneAscent Financial Services LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,223 shares of the coffee company's stock, valued at approximately $294,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Wintrust Investments LLC boosted its stake in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after acquiring an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel raised its holdings in shares of Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock valued at $387,000 after purchasing an additional 96 shares during the period. Wellington Shields & Co. LLC increased its holdings in shares of Starbucks by 8.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company's stock valued at $115,000 after purchasing an additional 100 shares during the last quarter. Mystic Asset Management Inc. lifted its position in Starbucks by 3.9% during the fourth quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company's stock worth $243,000 after acquiring an additional 101 shares during the last quarter. Finally, Jmac Enterprises LLC increased its holdings in shares of Starbucks by 1.0% during the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company's stock worth $912,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on SBUX. Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a report on Monday, January 27th. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday. Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Wells Fargo & Company raised 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. Finally, Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, Starbucks has an average rating of "Moderate Buy" and a consensus price target of $105.12.
Check Out Our Latest Research Report on Starbucks
Starbucks Stock Down 6.6 %
SBUX traded down $5.85 during midday trading on Thursday, hitting $82.84. 5,122,735 shares of the company traded hands, compared to its average volume of 11,402,090. The firm has a market capitalization of $94.09 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company's 50-day moving average is $103.14 and its 200 day moving average is $98.92. 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 posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the firm earned $0.90 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
Starbucks Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.95%. Starbucks's dividend payout ratio is presently 78.71%.
Starbucks Profile
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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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