Zuckerman Investment Group LLC Purchases 584 Shares of Starbucks Co. (NASDAQ:SBUX)

Zuckerman Investment Group LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 114,070 shares of the coffee company’s stock after purchasing an additional 584 shares during the period. Zuckerman Investment Group LLC’s holdings in Starbucks were worth $10,409,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $62,000. Arizona State Retirement System raised its stake in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new stake in Starbucks during the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. bought a new position in Starbucks in the 4th quarter worth $258,000. Finally, OFI Invest Asset Management purchased a new position in Starbucks during the fourth quarter valued at approximately $9,497,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 11.3 %

Shares of NASDAQ:SBUX opened at $88.68 on Thursday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The stock has a 50 day moving average of $103.14 and a 200 day moving average of $98.92. The company has a market cap of $100.73 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business posted $0.90 EPS. Equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.75%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Argus upgraded shares of 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $105.12.

About Starbucks

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.