Starbucks Co. (NASDAQ:SBUX) Shares Bought by Forum Financial Management LP

Forum Financial Management LP grew its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 155.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,139 shares of the coffee company's stock after purchasing an additional 11,038 shares during the quarter. Forum Financial Management LP's holdings in Starbucks were worth $1,655,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $62,000. Arizona State Retirement System boosted its stake in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after acquiring an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $265,000. Wernau Asset Management Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth about $258,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Starbucks in the 4th quarter valued at about $9,497,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on SBUX. Stifel Nicolaus cut their price target on Starbucks from $114.00 to $103.00 and set a "buy" rating on the stock in a research report on Tuesday. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target for the company in a research report on Wednesday, April 9th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. Wedbush lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Finally, Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Two research 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's stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.24.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $81.50 on Friday. The firm has a market capitalization of $92.58 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth 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 $98.26. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

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

Starbucks Announces Dividend

The business 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 is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.99%. Starbucks's dividend payout ratio is currently 78.71%.

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.

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