Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,412 shares of the coffee company’s stock after acquiring an additional 1,540 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Starbucks were worth $4,326,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.7% in the fourth 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 in the last quarter. FMR LLC increased its stake in shares of Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares during the period. Geode Capital Management LLC raised its holdings in Starbucks by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock worth $2,259,516,000 after purchasing an additional 548,245 shares in the last quarter. Wellington Management Group LLP lifted its position in Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock worth $1,448,030,000 after purchasing an additional 718,880 shares during the period. Finally, Norges Bank bought a new position in Starbucks during the 4th quarter valued at $1,244,812,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.0 %

SBUX opened at $85.43 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock has a fifty day moving average price of $102.16 and a 200 day moving average price of $98.78. The stock has a market cap of $97.04 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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. As a group, sell-side analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s payout ratio is 78.71%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research analyst reports. Robert W. Baird restated a “neutral” rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. UBS Group raised their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus upped their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price 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.