Capital Management Associates NY increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,935 shares of the coffee company’s stock after purchasing an additional 825 shares during the quarter. Capital Management Associates NY’s holdings in Starbucks were worth $849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of SBUX. Principal Financial Group Inc. grew its stake in shares of Starbucks by 49.6% in the third quarter. Principal Financial Group Inc. now owns 4,913,433 shares of the coffee company’s stock worth $422,162,000 after purchasing an additional 1,628,046 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Starbucks by 28.4% in the third quarter. UBS Asset Management Americas Inc. now owns 6,444,075 shares of the coffee company’s stock worth $553,675,000 after purchasing an additional 1,424,706 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Starbucks by 247.7% in the third quarter. CIBC Private Wealth Group LLC now owns 1,228,281 shares of the coffee company’s stock worth $104,876,000 after purchasing an additional 875,035 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $72,008,000. Finally, Magellan Asset Management Ltd boosted its position in Starbucks by 2.2% during the 3rd quarter. Magellan Asset Management Ltd now owns 29,606,483 shares of the coffee company’s stock valued at $2,543,789,000 after acquiring an additional 630,989 shares in the last quarter. 67.27% of the stock is currently owned by institutional investors.
SBUX has been the topic of several research reports. BMO Capital Markets raised Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $102.00 to $120.00 in a research report on Tuesday. Oppenheimer lifted their price objective on Starbucks from $112.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, December 10th. Telsey Advisory Group lifted their target price on shares of Starbucks from $102.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 27th. The Goldman Sachs Group began coverage on shares of Starbucks in a report on Tuesday, January 19th. They set a “buy” rating and a $115.00 target price for the company. Finally, Royal Bank of Canada lifted their target price on shares of Starbucks from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $102.26.
Starbucks stock traded down $0.62 during mid-day trading on Tuesday, hitting $101.19. The stock had a trading volume of 436,929 shares, compared to its average volume of 5,894,419. The firm has a market capitalization of $119.13 billion, a P/E ratio of 132.22, a P/E/G ratio of 2.67 and a beta of 0.82. The firm’s 50 day moving average is $103.43 and its 200 day moving average is $94.14. Starbucks Co. has a one year low of $50.02 and a one year high of $107.75.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Monday, January 25th. The coffee company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.06. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.92 billion. Starbucks had a net margin of 3.95% and a negative return on equity of 18.07%. Starbucks’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. On average, research analysts predict that Starbucks Co. will post 2.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 5th. Shareholders of record on Thursday, February 18th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.78%. The ex-dividend date is Wednesday, February 17th. Starbucks’s payout ratio is currently 153.85%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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