Arrow Capital Pty Ltd Takes $2.97 Million Position in Starbucks Co. (NASDAQ:SBUX)

Arrow Capital Pty Ltd bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,584 shares of the coffee company’s stock, valued at approximately $2,973,000. Starbucks comprises approximately 2.7% of Arrow Capital Pty Ltd’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co grew its holdings in shares of Starbucks by 1.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,237,353 shares of the coffee company’s stock valued at $112,853,000 after acquiring an additional 17,095 shares in the last quarter. Foster Dykema Cabot & Partners LLC increased its holdings in shares of Starbucks by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after purchasing an additional 97 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in Starbucks by 144.8% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 967 shares of the coffee company’s stock valued at $91,000 after acquiring an additional 572 shares during the period. Cravens & Co Advisors LLC lifted its holdings in Starbucks by 1.4% during the 4th quarter. Cravens & Co Advisors LLC now owns 12,168 shares of the coffee company’s stock worth $1,110,000 after purchasing an additional 165 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Starbucks by 3.2% during the fourth quarter. NewEdge Advisors LLC now owns 104,594 shares of the coffee company’s stock worth $9,544,000 after buying an additional 3,219 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $80.76 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock has a market capitalization of $91.74 billion, a P/E ratio of 26.05, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a 50-day moving average price of $100.44 and a 200-day moving average price of $98.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 quarter in the previous year, the firm posted $0.90 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid 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 dividend yield of 3.02%. Starbucks’s payout ratio is presently 78.71%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus reduced their price objective on Starbucks from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Tuesday. Wedbush boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.24.

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.