Azimuth Capital Investment Management LLC Has $10.76 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Azimuth Capital Investment Management LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,879 shares of the coffee company’s stock after selling 2,500 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Starbucks were worth $10,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in SBUX. Norges Bank acquired a new stake in Starbucks during the 4th quarter valued at approximately $1,244,812,000. FMR LLC raised its stake in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Starbucks during the fourth quarter valued at $284,283,000. Assenagon Asset Management S.A. grew its holdings in Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after acquiring an additional 2,632,087 shares during the period. Finally, Invesco Ltd. raised its position in shares of Starbucks by 9.0% in the 4th quarter. Invesco Ltd. now owns 11,457,981 shares of the coffee company’s stock worth $1,045,541,000 after acquiring an additional 944,897 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX stock opened at $79.69 on Wednesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company’s fifty day simple moving average is $103.92 and its two-hundred day simple moving average is $99.04. The stock has a market capitalization of $90.52 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 in the prior year, the company posted $0.90 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The company 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 dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.06%. Starbucks’s dividend payout ratio is 78.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Robert W. Baird reaffirmed a “neutral” rating and set a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research report on Monday. Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets increased their target price 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. Finally, Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.12.

Starbucks 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.