Schonfeld Strategic Advisors LLC Acquires 196,902 Shares of Starbucks Co. (NASDAQ:SBUX)

Schonfeld Strategic Advisors LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 85.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 426,907 shares of the coffee company’s stock after acquiring an additional 196,902 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Starbucks were worth $38,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in Starbucks in the 4th quarter worth about $62,000. Arizona State Retirement System grew its position in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after purchasing an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new position in Starbucks in the fourth quarter valued at about $265,000. Wernau Asset Management Inc. purchased a new position in Starbucks in the fourth quarter valued at about $258,000. Finally, OFI Invest Asset Management purchased a new position in Starbucks in the fourth quarter valued at about $9,497,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $83.90 on Tuesday. The company’s fifty day moving average price is $95.65 and its 200-day moving average price is $97.75. The firm has a market capitalization of $95.30 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 last year, the business posted $0.90 EPS. As a group, equities research analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed 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 2.91%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

Analyst Ratings Changes

A number of research analysts have weighed in on SBUX shares. Wells Fargo & Company dropped their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Citigroup dropped their target price on shares of Starbucks from $100.00 to $88.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price on the stock in a research note on Wednesday, April 9th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.38.

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.