Lighthouse Investment Partners LLC Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Lighthouse Investment Partners LLC grew its position in Starbucks Co. (NASDAQ:SBUX) by 302.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 324,000 shares of the coffee company’s stock after acquiring an additional 243,417 shares during the quarter. Starbucks comprises 1.0% of Lighthouse Investment Partners LLC’s investment portfolio, making the stock its 13th biggest position. Lighthouse Investment Partners LLC’s holdings in Starbucks were worth $29,565,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in shares of Starbucks during the 4th quarter worth $25,000. Graney & King LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $26,000. Collier Financial acquired a new stake in Starbucks in the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $30,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Starbucks from a “sell” rating to a “hold” rating in a research report on Saturday. Guggenheim reduced their target price on Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. TD Securities dropped their price objective on Starbucks from $102.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Robert W. Baird reissued a “neutral” rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Barclays lowered their target price on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $98.72.

Starbucks Trading Down 2.3%

NASDAQ SBUX opened at $80.30 on Monday. The company has a market capitalization of $91.25 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock’s 50 day moving average is $90.00 and its two-hundred day moving average is $96.88.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the company posted $0.68 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, 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 paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, May 16th. Starbucks’s payout ratio is presently 88.41%.

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.