Ceredex Value Advisors LLC Acquires 10,585 Shares of Starbucks Co. (NASDAQ:SBUX)

Ceredex Value Advisors LLC grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 349,409 shares of the coffee company’s stock after purchasing an additional 10,585 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Starbucks were worth $31,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Invst LLC increased its holdings in shares of Starbucks by 1.9% during the 3rd quarter. Invst LLC now owns 20,767 shares of the coffee company’s stock valued at $2,025,000 after acquiring an additional 395 shares during the last quarter. Tudor Financial Inc. acquired a new position in Starbucks during the third quarter valued at approximately $1,352,000. Fulcrum Equity Management grew its holdings in Starbucks by 38.8% during the third quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company’s stock valued at $402,000 after purchasing an additional 1,151 shares during the last quarter. Sculati Wealth Management LLC raised its position in shares of 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 purchasing an additional 1,350 shares during the period. Finally, World Investment Advisors LLC lifted its stake in shares of Starbucks by 1,941.0% in the third quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company’s stock worth $6,950,000 after buying an additional 67,799 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 2.1 %

NASDAQ SBUX opened at $83.71 on Wednesday. The firm has a market cap of $95.09 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a 50 day moving average of $101.07 and a 200-day moving average of $98.60.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the business posted $0.90 earnings per share. On average, analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

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 paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio is presently 78.71%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent analyst reports. UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Stifel Nicolaus dropped their price objective on Starbucks from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Tuesday. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.24.

About Starbucks

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.