Sagespring Wealth Partners LLC Purchases New Position in Starbucks Co. (NASDAQ:SBUX)

Sagespring Wealth Partners LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,976 shares of the coffee company's stock, valued at approximately $728,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in Starbucks during the fourth quarter valued at about $1,244,812,000. FMR LLC lifted its position in shares of Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Starbucks in the 4th quarter worth approximately $284,283,000. Assenagon Asset Management S.A. grew its position in Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company's stock worth $256,282,000 after purchasing an additional 2,632,087 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Starbucks by 9.0% during the 4th quarter. Invesco Ltd. now owns 11,457,981 shares of the coffee company's stock valued at $1,045,541,000 after purchasing an additional 944,897 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Price Performance

Shares of NASDAQ SBUX traded up $0.74 during mid-day trading on Friday, hitting $81.50. The company had a trading volume of 9,784,353 shares, compared to its average volume of 11,491,129. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market cap of $92.58 billion, a P/E ratio of 26.29, a PEG ratio of 3.59 and a beta of 1.00. The business's 50-day simple moving average is $99.25 and its 200-day simple moving average is $98.29.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the firm posted $0.90 EPS. As a group, sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders 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 2.99%. Starbucks's dividend payout ratio (DPR) is currently 78.71%.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. BMO Capital Markets lifted their target price on 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 price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of "Moderate Buy" and an average target price of $104.79.

Starbucks 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.