Prudential PLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,398 shares of the coffee company's stock after selling 16,587 shares during the period. Prudential PLC's holdings in Starbucks were worth $5,511,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Financial Life Planners bought a new stake in Starbucks in the fourth quarter valued at about $25,000. Graney & King LLC bought a new position in Starbucks during the fourth quarter worth about $26,000. Collier Financial acquired a new position in shares of Starbucks during the 4th quarter worth about $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $30,000. Institutional investors own 72.29% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on SBUX shares. Citigroup decreased their price objective on shares of Starbucks from $100.00 to $88.00 and set a "neutral" rating for the company in a report on Friday. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, Robert W. Baird restated a "neutral" rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a report on Monday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $104.68.
Get Our Latest Stock Report on SBUX
Starbucks Trading Up 1.0 %
Shares of Starbucks stock traded up $0.83 on Friday, reaching $85.43. 10,058,643 shares of the company were exchanged, compared to its average volume of 11,473,170. The company has a market capitalization of $97.04 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The company has a 50-day moving average of $102.16 and a 200 day moving average of $98.78.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the business earned $0.90 EPS. Analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.
Starbucks Dividend Announcement
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 paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.86%. Starbucks's dividend payout ratio (DPR) is currently 78.71%.
About Starbucks
(
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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