NewEdge Advisors LLC Increases Holdings in Starbucks Co. (NASDAQ:SBUX)

NewEdge Advisors LLC raised its stake in Starbucks Co. (NASDAQ:SBUX) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,594 shares of the coffee company’s stock after acquiring an additional 3,219 shares during the period. NewEdge Advisors LLC’s holdings in Starbucks were worth $9,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. Financial Life Planners purchased a new position in Starbucks in the fourth quarter worth about $25,000. Graney & King LLC purchased a new position in Starbucks in the 4th quarter worth approximately $26,000. Collier Financial bought a new position in Starbucks in the 4th quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks during the 4th quarter valued at $27,000. Finally, Marshall Investment Management LLC bought a new stake in shares of Starbucks in the 4th quarter worth $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.9 %

NASDAQ SBUX opened at $81.50 on Friday. The business has a 50-day moving average price of $99.84 and a 200-day moving average price of $98.37. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The firm has a market cap of $92.58 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the company posted $0.90 earnings per share. Research analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Citigroup decreased their price objective on shares of Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Stifel Nicolaus dropped their target price on shares of Starbucks from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company boosted their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.24.

Starbucks 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.