Arrowstreet Capital Limited Partnership Takes Position in Starbucks Co. (NASDAQ:SBUX)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,602 shares of the coffee company’s stock, valued at approximately $602,000.

Several other institutional investors also recently bought and sold shares of SBUX. Strategy Asset Managers LLC increased its holdings in shares of Starbucks by 4.3% in the 4th quarter. Strategy Asset Managers LLC now owns 6,107 shares of the coffee company’s stock valued at $557,000 after acquiring an additional 251 shares during the period. Allianz SE purchased a new position in Starbucks in the fourth quarter valued at about $406,000. Intrust Bank NA raised its holdings in Starbucks by 1.1% in the fourth quarter. Intrust Bank NA now owns 17,084 shares of the coffee company’s stock worth $1,559,000 after purchasing an additional 185 shares in the last quarter. Biondo Investment Advisors LLC lifted its position in shares of Starbucks by 1.5% during the fourth quarter. Biondo Investment Advisors LLC now owns 60,740 shares of the coffee company’s stock valued at $5,543,000 after buying an additional 870 shares during the last quarter. Finally, Allstate Corp bought a new stake in shares of Starbucks in the 4th quarter valued at about $3,069,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on SBUX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Citigroup decreased their price objective on Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a report on Friday. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Barclays boosted 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.68.

Starbucks Stock Up 1.0 %

SBUX stock opened at $85.43 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $97.04 billion, a P/E ratio of 27.56, a PEG ratio of 3.59 and a beta of 1.00. The company’s 50-day simple moving average is $102.16 and its 200-day simple moving average is $98.78.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 EPS. On average, analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio is presently 78.71%.

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.