Acorns Advisers LLC Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Acorns Advisers LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 24.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,380 shares of the coffee company’s stock after purchasing an additional 659 shares during the period. Acorns Advisers LLC’s holdings in Starbucks were worth $308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Financial Life Planners acquired a new stake in Starbucks in the fourth quarter valued at $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $26,000. Collier Financial acquired a new stake in shares of Starbucks in the 4th quarter valued at about $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the fourth quarter worth about $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks in the fourth quarter worth about $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SBUX shares. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price on the stock in a report on Wednesday, April 9th. Wells Fargo & Company lifted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus lowered their price objective on shares of Starbucks from $114.00 to $103.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Two equities 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.24.

Starbucks Stock Down 2.1 %

NASDAQ:SBUX opened at $83.71 on Wednesday. The business’s 50-day moving average price is $101.07 and its 200 day moving average price is $98.60. 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 $95.09 billion, a P/E ratio of 27.00, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 period in the previous year, the company posted $0.90 EPS. Sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio 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.