Starbucks Co. (NASDAQ:SBUX) Position Boosted by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 991.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,144,661 shares of the coffee company’s stock after acquiring an additional 1,039,744 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Starbucks were worth $104,450,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Financial Life Planners bought a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC acquired a new position in Starbucks during the 4th quarter valued at about $26,000. Collier Financial bought a new stake in shares of Starbucks during the 4th quarter worth about $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the 4th quarter worth approximately $27,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the 4th quarter worth approximately $30,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.3 %

Starbucks stock opened at $83.86 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company’s fifty day simple moving average is $96.81 and its 200-day simple moving average is $97.87. The stock has a market cap of $95.26 billion, a P/E ratio of 27.05, a P/E/G 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 EPS for the quarter, beating analysts’ consensus estimates 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 company earned $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, May 16th. Starbucks’s payout ratio is presently 78.71%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SBUX. Stifel Nicolaus dropped their target price on Starbucks from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Barclays cut their price target on shares of Starbucks from $124.00 to $106.00 and set an “overweight” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

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.