Federated Hermes Inc. Acquires 311 Shares of Starbucks Co. (NASDAQ:SBUX)

Federated Hermes Inc. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,325 shares of the coffee company’s stock after buying an additional 311 shares during the quarter. Federated Hermes Inc.’s holdings in Starbucks were worth $486,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Strategic Financial Concepts LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $62,000. Arizona State Retirement System boosted its stake in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new position in shares of Starbucks in the 4th quarter valued at about $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks in the 4th quarter valued at about $258,000. Finally, OFI Invest Asset Management bought a new stake in Starbucks during the fourth quarter worth about $9,497,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SBUX shares. Wells Fargo & Company boosted their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. BMO Capital Markets increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Robert W. Baird restated a “neutral” rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Citigroup reduced their price target on Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $104.24.

Starbucks Trading Up 0.9 %

Shares of NASDAQ SBUX opened at $81.50 on Friday. The stock has a 50-day moving average price of $99.84 and a two-hundred day moving average price of $98.37. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a market cap of $92.58 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm earned $0.90 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.99%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

About Starbucks

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.