Renaissance Technologies LLC Buys New Holdings in Starbucks Co. (NASDAQ:SBUX)

Renaissance Technologies LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 369,784 shares of the coffee company's stock, valued at approximately $33,743,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pioneer Trust Bank N A OR boosted its position in Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after acquiring an additional 92 shares in the last quarter. Wintrust Investments LLC boosted its position in shares of Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after purchasing an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel grew its stake in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock worth $387,000 after purchasing an additional 96 shares during the period. Wellington Shields & Co. LLC raised its holdings in Starbucks by 8.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company's stock worth $115,000 after purchasing an additional 100 shares in the last quarter. Finally, 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 valued at $243,000 after buying an additional 101 shares during the period. Institutional investors own 72.29% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SBUX. Robert W. Baird reiterated a "neutral" rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Stifel Nicolaus decreased their target price on shares of Starbucks from $114.00 to $103.00 and set a "buy" rating for the company in a research note on Tuesday. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Citigroup reduced their price objective on Starbucks from $100.00 to $88.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $104.24.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $2.95 during trading hours on Wednesday, hitting $80.76. The company's stock had a trading volume of 12,975,547 shares, compared to its average volume of 11,470,066. The firm's fifty day moving average price is $101.07 and its 200 day moving average price is $98.60. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market capitalization of $91.74 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 last year, the business posted $0.90 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given 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 dividend yield of 3.02%. Starbucks's payout ratio is 78.71%.

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.