Morton Capital Management LLC CA increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 144.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,771 shares of the coffee company's stock after purchasing an additional 4,003 shares during the quarter. Morton Capital Management LLC CA's holdings in Starbucks were worth $618,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the period. FMR LLC grew its position in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company's stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company's stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company's stock worth $256,282,000 after purchasing an additional 2,632,087 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company's stock valued at $248,153,000 after purchasing an additional 2,329,431 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.
Several equities research analysts recently issued reports on SBUX shares. Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Royal Bank of Canada initiated coverage on Starbucks in a research report on Friday, November 15th. They set an "outperform" rating and a $115.00 target price on the stock. Bank of America reduced their price target on Starbucks from $118.00 to $117.00 and set a "buy" rating for the company in a report on Tuesday, October 22nd. Barclays dropped their price objective on Starbucks from $110.00 to $108.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Finally, Redburn Atlantic reiterated a "sell" rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.92.
Get Our Latest Research Report on Starbucks
NASDAQ:SBUX opened at $94.43 on Friday. The firm has a market capitalization of $107.06 billion, a P/E ratio of 28.53, a P/E/G ratio of 2.73 and a beta of 0.99. The business has a 50 day simple moving average of $95.92 and a 200 day simple moving average of $91.35. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts anticipate that Starbucks Co. will post 3.1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks's dividend payout ratio (DPR) is presently 73.72%.
In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.98% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Starbucks, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Starbucks wasn't on the list.
While Starbucks currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.