Summit Financial LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,323 shares of the coffee company's stock after selling 4,583 shares during the quarter. Summit Financial LLC's holdings in Starbucks were worth $3,223,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new stake in Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC acquired a new stake in Starbucks during the 4th quarter valued at approximately $26,000. Collier Financial purchased a new stake in shares of Starbucks in the 4th quarter valued at $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the fourth quarter worth $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Starbucks during the fourth quarter worth $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on SBUX shares. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. 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 report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, February 25th. UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Finally, Barclays raised 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. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $106.12.
Check Out Our Latest Stock Report on Starbucks
Starbucks Stock Performance
Starbucks stock traded up $1.18 during trading on Wednesday, hitting $99.41. The company's stock had a trading volume of 6,033,966 shares, compared to its average volume of 11,109,005. The stock's fifty day moving average is $105.84 and its 200 day moving average is $99.54. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a market capitalization of $112.92 billion, a price-to-earnings ratio of 32.07, a P/E/G ratio of 3.59 and a beta of 0.99.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 company posted $0.90 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal 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 issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. Starbucks's payout ratio is currently 78.71%.
Starbucks Profile
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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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