Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Castleark Management LLC

Castleark Management LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 231,760 shares of the coffee company’s stock after purchasing an additional 7,660 shares during the quarter. Starbucks makes up about 0.7% of Castleark Management LLC’s holdings, making the stock its 25th biggest position. Castleark Management LLC’s holdings in Starbucks were worth $21,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. TrinityPoint Wealth LLC lifted its stake in shares of Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after acquiring an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR increased its holdings in Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after purchasing an additional 92 shares during the last quarter. Wintrust Investments LLC raised its position in shares of Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after purchasing an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel boosted its stake in shares of Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after buying an additional 96 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock valued at $261,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $85.59 on Wednesday. The company has a market capitalization of $97.26 billion, a PE ratio of 27.61, a P/E/G ratio of 3.59 and a beta of 0.99. The stock’s fifty day moving average is $87.66 and its 200-day moving average is $96.31. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter last year, the business posted $0.68 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal 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 given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.85%. Starbucks’s dividend payout ratio (DPR) is presently 88.41%.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Saturday, May 10th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Starbucks in a research report on Friday, May 16th. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Stifel Nicolaus dropped their price target on Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.72.

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.