USS Investment Management Ltd Purchases 145,516 Shares of Starbucks Co. (NASDAQ:SBUX)

USS Investment Management Ltd increased its position in Starbucks Co. (NASDAQ:SBUX) by 147.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,516 shares of the coffee company’s stock after purchasing an additional 145,516 shares during the period. USS Investment Management Ltd’s holdings in Starbucks were worth $22,317,000 at the end of the most recent quarter.

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

Starbucks Stock Down 1.1%

SBUX opened at $84.61 on Tuesday. The firm has a market cap of $96.15 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company’s 50-day moving average price is $87.87 and its 200 day moving average price is $96.39. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the previous year, the business posted $0.68 EPS. Starbucks’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.88%. Starbucks’s payout ratio is 88.41%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBUX. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. UBS Group cut their price target on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a report on Wednesday, April 9th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. Finally, TD Securities lowered their price objective on shares of Starbucks from $102.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.72.

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.