First Trust Advisors LP Increases Position in Starbucks Co. (NASDAQ:SBUX)

First Trust Advisors LP boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 15.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 840,382 shares of the coffee company’s stock after purchasing an additional 115,133 shares during the period. First Trust Advisors LP’s holdings in Starbucks were worth $76,685,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks during the fourth quarter worth approximately $62,000. Arizona State Retirement System lifted its stake in shares of Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at about $265,000. Wernau Asset Management Inc. acquired a new position in shares of Starbucks during the fourth quarter worth about $258,000. Finally, OFI Invest Asset Management purchased a new position in Starbucks during the fourth quarter worth about $9,497,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Down 1.0 %

Shares of SBUX opened at $80.68 on Tuesday. The firm has a market cap of $91.64 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company’s fifty day moving average is $98.60 and its two-hundred day moving average is $98.18. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

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

Starbucks Dividend Announcement

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. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio is presently 78.71%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SBUX. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Citigroup dropped their price target on Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus decreased their price objective on shares of Starbucks from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company raised their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $104.79.

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.