Strategic Wealth Partners Ltd. Buys 27,428 Shares of Starbucks Co. (NASDAQ:SBUX)

Strategic Wealth Partners Ltd. lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 30.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,797 shares of the coffee company’s stock after purchasing an additional 27,428 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Starbucks were worth $10,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after purchasing an additional 784,432 shares during the last quarter. Capital World Investors increased its holdings in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. FMR LLC raised its position in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC lifted its stake in Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after acquiring an additional 548,245 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after acquiring an additional 718,880 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Citigroup cut their target price on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. UBS Group lowered their price target on Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Stifel Nicolaus dropped their price target on Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, BMO Capital Markets reduced their price objective on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $98.72.

Starbucks Trading Down 1.9%

NASDAQ SBUX opened at $85.57 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a market cap of $97.24 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.59 and a beta of 0.99. The company’s 50 day moving average is $88.15 and its two-hundred day moving average is $96.50.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders 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 dividend on an annualized basis and a yield of 2.85%. Starbucks’s dividend payout ratio is presently 88.41%.

Starbucks 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.