Rathbones Group PLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 22.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,454 shares of the coffee company's stock after selling 9,278 shares during the period. Rathbones Group PLC's holdings in Starbucks were worth $2,870,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Life Planners acquired a new position in Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC purchased a new position in Starbucks during the fourth quarter worth about $26,000. Collier Financial acquired a new stake in shares of Starbucks during the fourth quarter valued at about $27,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on SBUX. Royal Bank of Canada reissued an "outperform" rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their price objective 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. Wells Fargo & Company increased their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Finally, Stifel Nicolaus boosted their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.68.
Check Out Our Latest Research Report on Starbucks
Starbucks Stock Down 1.3 %
NASDAQ:SBUX traded down $1.07 during midday trading on Monday, reaching $84.36. The stock had a trading volume of 2,388,035 shares, compared to its average volume of 11,449,672. The stock has a market cap of $95.82 billion, a P/E ratio of 27.21, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a fifty day simple moving average of $102.16 and a two-hundred day simple moving average of $98.79.
Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results 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 period in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
Starbucks Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.89%. Starbucks's dividend payout ratio is currently 78.71%.
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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