Summit Investment Advisors Inc. Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Summit Investment Advisors Inc. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 47,412 shares of the coffee company’s stock after acquiring an additional 1,540 shares during the period. Summit Investment Advisors Inc.’s holdings in Starbucks were worth $4,326,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SBUX. Norges Bank purchased a new position in Starbucks during the fourth quarter worth about $1,244,812,000. FMR LLC grew its stake in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Starbucks in the 4th quarter worth $284,283,000. Assenagon Asset Management S.A. boosted its holdings in Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after acquiring an additional 2,632,087 shares during the last quarter. Finally, Invesco Ltd. grew its position in Starbucks by 9.0% during the fourth quarter. Invesco Ltd. now owns 11,457,981 shares of the coffee company’s stock valued at $1,045,541,000 after acquiring an additional 944,897 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $85.43 on Friday. The company has a market cap of $97.04 billion, a PE ratio of 27.56, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a fifty day moving average price of $102.16 and a two-hundred day moving average price of $98.78.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 quarter in the prior year, the firm posted $0.90 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio is presently 78.71%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research reports. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays lifted their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Citigroup dropped their price objective on shares of Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday. Wells Fargo & Company lifted their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $104.68.

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.