Starbucks Co. (NASDAQ:SBUX) Position Increased by Castleark Management LLC

Castleark Management LLC grew its position in Starbucks Co. (NASDAQ:SBUX) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,760 shares of the coffee company’s stock after buying an additional 7,660 shares during the quarter. Starbucks makes up approximately 0.7% of Castleark Management LLC’s portfolio, making the stock its 25th largest position. Castleark Management LLC’s holdings in Starbucks were worth $21,148,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Starbucks during the 4th quarter worth about $1,244,812,000. Capital World Investors increased its holdings in shares of Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC lifted its position in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after purchasing an additional 3,563,942 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $284,283,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBUX. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Starbucks in a research note on Friday, May 16th. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Wedbush upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets cut their price objective on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Barclays lowered their target price on Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.72.

Starbucks Price Performance

Starbucks stock opened at $85.59 on Wednesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a fifty day moving average price of $87.66 and a two-hundred day moving average price of $96.31. The firm has a market cap of $97.26 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the firm posted $0.68 EPS. Starbucks’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared 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 of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.85%. Starbucks’s dividend payout ratio (DPR) is presently 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.