Sierra Summit Advisors LLC Buys New Position in Starbucks Co. (NASDAQ:SBUX)

Sierra Summit Advisors 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 Securities and Exchange Commission (SEC). The fund bought 9,900 shares of the coffee company's stock, valued at approximately $903,000.

Several other hedge funds have also bought and sold shares of the stock. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter worth $25,000. Graney & King LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $26,000. Collier Financial bought a new stake in Starbucks during the 4th quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the 4th quarter worth approximately $27,000. Finally, Marshall Investment Management LLC bought a new position in Starbucks in the 4th quarter worth approximately $30,000. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Up 1.0 %

Shares of Starbucks stock traded up $0.83 during trading on Friday, hitting $85.43. 10,058,643 shares of the stock traded hands, compared to its average volume of 11,473,170. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock's fifty day simple moving average is $102.16 and its 200 day simple moving average is $98.78. The firm has a market cap of $97.04 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

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Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's payout ratio is 78.71%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SBUX. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $104.68.

About Starbucks

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.