Strive Asset Management LLC Makes New $284,000 Investment in Starbucks Co. (NASDAQ:SBUX)

Strive Asset Management LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,114 shares of the coffee company’s stock, valued at approximately $284,000.

Several other hedge funds have also recently bought and sold shares of the stock. Financial Life Planners bought a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC bought a new stake in shares of Starbucks during the fourth quarter worth $26,000. Collier Financial acquired a new position in Starbucks in the 4th quarter worth about $27,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC bought a new position in shares of Starbucks during the fourth quarter valued at $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. UBS Group lowered their price objective on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird restated a “neutral” rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. The Goldman Sachs Group downgraded Starbucks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $103.00 to $85.00 in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus cut their price target on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.72.

Starbucks Stock Performance

NASDAQ:SBUX opened at $85.57 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $97.24 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.59 and a beta of 0.99. The business’s fifty day moving average is $88.15 and its 200 day moving average is $96.50.

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

Starbucks Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.85%. Starbucks’s dividend payout ratio is 88.41%.

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.