InterOcean Capital Group LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 35.0% in the first quarter, HoldingsChannel reports. The fund owned 299,004 shares of the coffee company’s stock after acquiring an additional 77,573 shares during the period. InterOcean Capital Group LLC’s holdings in Starbucks were worth $27,200,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Qube Research & Technologies Ltd raised its stake in Starbucks by 1,625.1% during the fourth quarter. Qube Research & Technologies Ltd now owns 288,234 shares of the coffee company’s stock valued at $33,715,000 after buying an additional 271,526 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $1,297,000. PYA Waltman Capital LLC bought a new position in Starbucks in the 4th quarter worth about $25,000. Benjamin F. Edwards & Company Inc. grew its position in Starbucks by 0.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 43,770 shares of the coffee company’s stock valued at $5,120,000 after purchasing an additional 229 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Starbucks by 65.2% during the 4th quarter. Benjamin Edwards Inc. now owns 1,513 shares of the coffee company’s stock valued at $177,000 after purchasing an additional 597 shares in the last quarter. Hedge funds and other institutional investors own 69.21% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on SBUX shares. Morgan Stanley upped their target price on shares of Starbucks from $87.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. Piper Sandler increased their price objective on Starbucks from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, July 18th. StockNews.com lowered Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. Credit Suisse Group reduced their price target on shares of Starbucks from $122.00 to $103.00 in a research note on Wednesday, May 4th. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research report on Wednesday, May 4th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average target price of $103.35.
Starbucks Price Performance
Starbucks (NASDAQ:SBUX – Get Rating) last issued its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the prior year, the company posted $1.01 EPS. Equities analysts forecast that Starbucks Co. will post 2.89 EPS for the current fiscal year.
Starbucks Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, August 11th. Starbucks’s dividend payout ratio is 55.21%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.
- Get a free copy of the StockNews.com research report on Starbucks (SBUX)
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