Starbucks Co. (NASDAQ:SBUX) Shares Acquired by RiverPark Advisors LLC

RiverPark Advisors LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 59.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,587 shares of the coffee company’s stock after purchasing an additional 4,701 shares during the quarter. RiverPark Advisors LLC’s holdings in Starbucks were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Invst LLC raised its stake in Starbucks by 1.9% during the third quarter. Invst LLC now owns 20,767 shares of the coffee company’s stock worth $2,025,000 after purchasing an additional 395 shares during the period. Tudor Financial Inc. acquired a new stake in shares of Starbucks during the 3rd quarter worth $1,352,000. Fulcrum Equity Management raised its position in shares of Starbucks by 38.8% in the 3rd quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company’s stock worth $402,000 after buying an additional 1,151 shares during the period. Sculati Wealth Management LLC boosted its holdings in Starbucks by 15.1% in the third quarter. Sculati Wealth Management LLC now owns 10,291 shares of the coffee company’s stock valued at $940,000 after acquiring an additional 1,350 shares during the last quarter. Finally, World Investment Advisors LLC grew its position in Starbucks by 1,941.0% during the third quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company’s stock valued at $6,950,000 after acquiring an additional 67,799 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research note on Wednesday, April 9th. Robert W. Baird restated a “neutral” rating and set a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Finally, Citigroup lowered their price target on Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.00.

Starbucks Trading Up 1.3 %

SBUX stock opened at $82.80 on Thursday. The firm’s 50-day moving average is $97.38 and its two-hundred day moving average is $97.96. The company has a market capitalization of $94.06 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the firm earned $0.90 EPS. On average, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

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 given 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 2.95%. Starbucks’s dividend payout ratio (DPR) 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.