Burling Wealth Partners LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Burling Wealth Partners LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,230 shares of the coffee company’s stock, valued at approximately $751,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Starbucks during the 4th quarter valued at about $1,244,812,000. Capital World Investors raised its stake in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC boosted its holdings in shares of Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after buying an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth $284,283,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research analyst reports. Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Barclays decreased their target price on Starbucks from $124.00 to $106.00 and set an “overweight” rating for the company in a report on Tuesday. 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 report on Wednesday, January 29th. Robert W. Baird reiterated a “neutral” rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.00.

Starbucks Stock Up 1.3 %

NASDAQ:SBUX opened at $83.86 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market cap of $95.26 billion, a PE ratio of 27.05, a P/E/G ratio of 3.59 and a beta of 1.00. The business’s 50 day moving average is $96.81 and its two-hundred day moving average is $97.87.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 period in the prior year, the firm earned $0.90 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.91%. Starbucks’s dividend payout ratio is currently 78.71%.

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.