Raymond James Financial Services Advisors Inc. Grows Stock Position in Starbucks Co. (NASDAQ:SBUX)

Raymond James Financial Services Advisors Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 735,064 shares of the coffee company’s stock after buying an additional 12,841 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.06% of Starbucks worth $85,989,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Starbucks by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,109,266 shares of the coffee company’s stock valued at $2,212,852,000 after purchasing an additional 563,271 shares during the last quarter. Morgan Stanley increased its holdings in Starbucks by 3.1% in the 2nd quarter. Morgan Stanley now owns 13,016,786 shares of the coffee company’s stock valued at $1,455,407,000 after purchasing an additional 396,104 shares during the last quarter. Capital Research Global Investors increased its holdings in Starbucks by 3.9% in the 3rd quarter. Capital Research Global Investors now owns 9,273,119 shares of the coffee company’s stock valued at $1,022,918,000 after purchasing an additional 345,492 shares during the last quarter. Wellington Management Group LLP increased its holdings in Starbucks by 86.6% in the 3rd quarter. Wellington Management Group LLP now owns 5,239,631 shares of the coffee company’s stock valued at $577,984,000 after purchasing an additional 2,432,001 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Starbucks by 150.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,375,236 shares of the coffee company’s stock valued at $482,632,000 after purchasing an additional 2,629,721 shares during the last quarter. 69.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:SBUX traded down $1.94 on Friday, reaching $74.64. The company’s stock had a trading volume of 9,199,279 shares, compared to its average volume of 9,418,605. The stock’s 50-day moving average is $85.04 and its two-hundred day moving average is $99.82. Starbucks Co. has a 52-week low of $74.48 and a 52-week high of $126.32. The stock has a market capitalization of $85.86 billion, a P/E ratio of 20.12, a PEG ratio of 1.94 and a beta of 0.90.

Starbucks (NASDAQ:SBUXGet Rating) last announced its earnings results on Tuesday, February 1st. The coffee company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.08). Starbucks had a net margin of 14.47% and a negative return on equity of 56.17%. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period in the previous year, the company posted $0.61 earnings per share. Starbucks’s quarterly revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Co. will post 3.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.63%. Starbucks’s dividend payout ratio (DPR) is 52.83%.

Several analysts recently weighed in on SBUX shares. UBS Group dropped their target price on shares of Starbucks from $105.00 to $86.00 and set a “neutral” rating for the company in a report on Monday, April 25th. Piper Sandler dropped their price target on shares of Starbucks from $108.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 2nd. Credit Suisse Group dropped their price target on shares of Starbucks from $132.00 to $122.00 and set an “outperform” rating for the company in a research note on Wednesday, February 2nd. Evercore ISI dropped their price target on shares of Starbucks from $120.00 to $115.00 and set an “inline” rating for the company in a research note on Wednesday, February 2nd. Finally, Morgan Stanley dropped their price target on shares of Starbucks from $107.00 to $94.00 and set an “equal weight” rating for the company in a research note on Thursday, April 14th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $107.58.

Starbucks Company Profile (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

See Also

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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