Starbucks Co. (NASDAQ:SBUX) Shares Bought by Elgethun Capital Management

Elgethun Capital Management raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,311 shares of the coffee company’s stock after acquiring an additional 197 shares during the period. Elgethun Capital Management’s holdings in Starbucks were worth $120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SBUX. Janus Henderson Group PLC raised its holdings in shares of Starbucks by 12.0% in the 3rd quarter. Janus Henderson Group PLC now owns 181,612 shares of the coffee company’s stock valued at $17,713,000 after buying an additional 19,406 shares during the period. Kovitz Investment Group Partners LLC grew its position in Starbucks by 63.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 104,917 shares of the coffee company’s stock valued at $10,228,000 after acquiring an additional 40,915 shares in the last quarter. Insigneo Advisory Services LLC increased its stake in Starbucks by 28.5% during the third quarter. Insigneo Advisory Services LLC now owns 7,900 shares of the coffee company’s stock worth $770,000 after purchasing an additional 1,750 shares during the period. Dunhill Financial LLC lifted its position in shares of Starbucks by 6.2% during the third quarter. Dunhill Financial LLC now owns 2,367 shares of the coffee company’s stock worth $231,000 after purchasing an additional 139 shares in the last quarter. Finally, Headinvest LLC acquired a new position in shares of Starbucks in the third quarter valued at approximately $222,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Down 7.0 %

Shares of SBUX stock opened at $82.10 on Monday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock’s 50-day moving average price is $105.32 and its 200 day moving average price is $99.41. The stock has a market capitalization of $93.26 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released 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 period last year, the company earned $0.90 EPS. Analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.97%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

Analyst Ratings Changes

Several equities analysts have commented on SBUX shares. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Stifel Nicolaus upped their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Finally, Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

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.