Elgethun Capital Management Increases Position in Starbucks Co. (NASDAQ:SBUX)

Elgethun Capital Management boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 17.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,311 shares of the coffee company’s stock after buying an additional 197 shares during the quarter. Elgethun Capital Management’s holdings in Starbucks were worth $120,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Twin Capital Management Inc. raised its stake in shares of Starbucks by 59.9% during the 4th quarter. Twin Capital Management Inc. now owns 6,974 shares of the coffee company’s stock worth $636,000 after buying an additional 2,613 shares during the last quarter. Invesco Ltd. increased its holdings in Starbucks by 9.0% during the 4th quarter. Invesco Ltd. now owns 11,457,981 shares of the coffee company’s stock valued at $1,045,541,000 after acquiring an additional 944,897 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in Starbucks during the fourth quarter worth about $903,000. FMR LLC lifted its holdings in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Starbucks by 6.2% in the fourth quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company’s stock valued at $486,000 after purchasing an additional 311 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Barclays upped their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. UBS Group upped their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Trading Down 7.0 %

Shares of Starbucks stock opened at $82.10 on Monday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a market cap of $93.26 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company has a fifty day moving average price of $105.32 and a 200 day moving average price of $99.41.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 earned $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.97%. Starbucks’s payout ratio is currently 78.71%.

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.