Strive Asset Management LLC Takes $284,000 Position in Starbucks Co. (NASDAQ:SBUX)

Strive Asset Management LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,114 shares of the coffee company’s stock, valued at approximately $284,000.

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

Starbucks Stock Down 1.9%

SBUX stock opened at $85.57 on Friday. The firm 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. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The business’s fifty day simple moving average is $88.15 and its two-hundred day simple moving average is $96.50.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $8.90 billion. During the same period in the previous year, the company posted $0.68 EPS. Starbucks’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, May 16th. Starbucks’s payout ratio is currently 88.41%.

Analysts Set New Price Targets

SBUX has been the topic of several research reports. UBS Group dropped their target price on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Starbucks in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. StockNews.com upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Saturday, May 10th. Finally, Guggenheim dropped their price target on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.