Guggenheim Capital LLC Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Guggenheim Capital LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 643,059 shares of the coffee company’s stock after buying an additional 3,820 shares during the period. Guggenheim Capital LLC owned approximately 0.06% of Starbucks worth $58,679,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after purchasing an additional 784,432 shares during the period. FMR LLC increased its position in Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC raised its holdings in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after buying an additional 548,245 shares during the period. Wellington Management Group LLP lifted its position in Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after buying an additional 718,880 shares in the last quarter. Finally, Norges Bank acquired a new position in Starbucks during the fourth quarter valued at approximately $1,244,812,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Starbucks stock opened at $85.49 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm’s 50-day moving average is $101.63 and its 200-day moving average is $98.70. The company has a market cap of $97.11 billion, a P/E ratio of 27.58, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company earned $0.90 EPS. As a group, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid 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 yield of 2.85%. Starbucks’s payout ratio is currently 78.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SBUX shares. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research report on Wednesday, April 9th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Finally, UBS Group upped their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Two investment 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 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.