Allen Capital Group LLC Invests $462,000 in Starbucks Co. (NASDAQ:SBUX)

Allen Capital Group LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,813 shares of the coffee company’s stock, valued at approximately $462,000.

Several other hedge funds have also recently made changes to their positions in SBUX. Norges Bank acquired a new position in shares of Starbucks in the 4th quarter valued at $1,222,931,000. Moneta Group Investment Advisors LLC boosted its holdings in Starbucks by 115,334.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock valued at $842,569,000 after purchasing an additional 8,486,281 shares during the last quarter. Morgan Stanley boosted its stake in shares of Starbucks by 46.3% during the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after acquiring an additional 8,451,599 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Starbucks during the 1st quarter worth about $190,270,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Starbucks during the 3rd quarter worth about $147,125,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Morgan Stanley decreased their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Jefferies Financial Group decreased their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Barclays decreased their price target on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $107.43.

Starbucks Stock Performance

NASDAQ:SBUX opened at $86.14 on Wednesday. The stock has a market capitalization of $97.53 billion, a P/E ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. The company has a 50 day moving average price of $91.51 and a 200 day moving average price of $94.53. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Research analysts forecast that Starbucks Co. will post 4.04 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 4,000 shares of company stock valued at $375,665 in the last ninety days. Insiders own 1.98% of the company’s stock.

Starbucks Company 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.