Schonfeld Strategic Advisors LLC Buys 196,902 Shares of Starbucks Co. (NASDAQ:SBUX)

Schonfeld Strategic Advisors LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 85.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 426,907 shares of the coffee company’s stock after purchasing an additional 196,902 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Starbucks were worth $38,955,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Financial Life Planners purchased a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. Graney & King LLC purchased a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Collier Financial purchased a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Starbucks during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.1 %

Shares of NASDAQ:SBUX opened at $83.90 on Tuesday. The stock has a 50 day moving average of $95.65 and a 200 day moving average of $97.75. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a market cap of $95.30 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the firm posted $0.90 EPS. Equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.91%. Starbucks’s dividend payout ratio is presently 78.71%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research analyst reports. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Barclays reduced their target price on Starbucks from $124.00 to $106.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Citigroup cut their price target on Starbucks from $100.00 to $88.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Finally, UBS Group cut their price target on Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.38.

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.