UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 1,599,140 Shares of Starbucks Co. (NASDAQ:SBUX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 25.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,893,188 shares of the coffee company’s stock after buying an additional 1,599,140 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.69% of Starbucks worth $720,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in Starbucks during the fourth quarter worth about $25,000. Graney & King LLC bought a new position in Starbucks during the fourth quarter worth about $26,000. Collier Financial bought a new position in Starbucks during the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $30,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.2%

NASDAQ:SBUX opened at $85.59 on Wednesday. The firm has a market capitalization of $97.26 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock’s 50 day moving average price is $87.66 and its two-hundred day moving average price is $96.31.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. As a group, analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced 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. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s payout ratio is presently 88.41%.

Analysts Set New Price Targets

SBUX has been the topic of several recent analyst reports. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. The Goldman Sachs Group cut Starbucks from a “buy” rating to a “neutral” rating and cut their price objective for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Robert W. Baird reiterated a “neutral” rating and set a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, May 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.72.

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.