Groupama Asset Managment lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,479 shares of the coffee company's stock after selling 4,026 shares during the quarter. Groupama Asset Managment's holdings in Starbucks were worth $859,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in SBUX. Strategic Financial Concepts LLC bought a new position in Starbucks during the 4th quarter valued at approximately $62,000. Arizona State Retirement System raised its holdings in shares of Starbucks by 0.8% during 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 bought a new position in shares of Starbucks during the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. purchased a new stake in Starbucks in the fourth quarter worth $258,000. Finally, Investment Management Corp of Ontario increased its position in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock valued at $3,664,000 after purchasing an additional 12,300 shares during the period. Institutional investors own 72.29% of the company's stock.
Starbucks Trading Down 7.0 %
NASDAQ:SBUX traded down $6.16 during mid-day trading on Friday, reaching $82.10. The company's stock had a trading volume of 19,694,666 shares, compared to its average volume of 11,211,888. The firm's fifty day moving average price is $105.32 and its two-hundred day moving average price is $99.36. The stock has a market cap of $93.26 billion, a P/E ratio of 26.48, a PEG 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.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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 company earned $0.90 earnings per share. Analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
Starbucks Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.97%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio is 78.71%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $106.12.
Check Out Our Latest Stock Analysis on Starbucks
Starbucks Profile
(
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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