The Manufacturers Life Insurance Company Has $208.57 Million Stake in Starbucks Co. (NASDAQ:SBUX)

The Manufacturers Life Insurance Company lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,285,696 shares of the coffee company’s stock after buying an additional 104,517 shares during the period. The Manufacturers Life Insurance Company’s holdings in Starbucks were worth $208,570,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Invst LLC lifted its holdings in Starbucks by 1.9% in the third quarter. Invst LLC now owns 20,767 shares of the coffee company’s stock valued at $2,025,000 after buying an additional 395 shares during the period. Tudor Financial Inc. acquired a new position in Starbucks in the third quarter valued at approximately $1,352,000. Fulcrum Equity Management lifted its holdings in Starbucks by 38.8% in the third quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company’s stock valued at $402,000 after buying an additional 1,151 shares during the period. Sculati Wealth Management LLC lifted its holdings in Starbucks by 15.1% in the third quarter. Sculati Wealth Management LLC now owns 10,291 shares of the coffee company’s stock valued at $940,000 after buying an additional 1,350 shares during the period. Finally, World Investment Advisors LLC lifted its holdings in Starbucks by 1,941.0% in the third quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company’s stock valued at $6,950,000 after buying an additional 67,799 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX opened at $83.90 on Tuesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market capitalization of $95.30 billion, a PE ratio of 27.06, a PEG ratio of 3.59 and a beta of 1.00. The business’s 50-day simple moving average is $95.65 and its 200 day simple moving average is $97.75.

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, topping the consensus estimate 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 quarter last year, the firm earned $0.90 EPS. On average, research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SBUX shares. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Baird R W lowered shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. 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 report on Wednesday, April 9th. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Finally, Barclays cut their target price on shares of Starbucks from $124.00 to $106.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $102.38.

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.