Sunbelt Securities Inc. Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Sunbelt Securities Inc. raised its position in Starbucks Co. (NASDAQ:SBUX) by 3.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 26,309 shares of the coffee company’s stock after acquiring an additional 929 shares during the period. Sunbelt Securities Inc.’s holdings in Starbucks were worth $2,383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in Starbucks during the 4th quarter worth approximately $62,000. Arizona State Retirement System grew its holdings in Starbucks by 0.8% during the fourth 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 position in Starbucks in the fourth quarter worth $265,000. Wernau Asset Management Inc. acquired a new stake in Starbucks in the fourth quarter valued at $258,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Starbucks during the 4th quarter worth $9,497,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus dropped their target price on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Finally, TD Securities reduced their price objective on Starbucks from $102.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Three research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.72.

Starbucks Stock Performance

SBUX stock opened at $83.97 on Friday. The company has a 50 day moving average price of $87.06 and a two-hundred day moving average price of $96.13. The stock has a market capitalization of $95.42 billion, a P/E ratio of 27.09, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. Research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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 issued a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.91%. Starbucks’s payout ratio is currently 88.41%.

Starbucks Company 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.