LaSalle St. Investment Advisors LLC Has $962,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

LaSalle St. Investment Advisors LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 103.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,546 shares of the coffee company’s stock after buying an additional 5,374 shares during the period. LaSalle St. Investment Advisors LLC’s holdings in Starbucks were worth $962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. XTX Topco Ltd acquired a new position in Starbucks in the fourth quarter valued at about $581,000. Broyhill Asset Management bought a new position in shares of Starbucks during the fourth quarter worth $380,000. Belpointe Asset Management LLC grew its holdings in shares of Starbucks by 1.5% in the 4th quarter. Belpointe Asset Management LLC now owns 14,397 shares of the coffee company’s stock valued at $1,362,000 after buying an additional 207 shares during the period. CreativeOne Wealth LLC raised its stake in Starbucks by 2.0% during the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the coffee company’s stock worth $927,000 after buying an additional 196 shares during the period. Finally, Giverny Capital Inc. lifted its holdings in Starbucks by 4.4% during the fourth quarter. Giverny Capital Inc. now owns 749,372 shares of the coffee company’s stock worth $68,380,000 after acquiring an additional 31,368 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on SBUX. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Barclays lifted their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.68.

Starbucks Trading Up 1.0 %

Shares of Starbucks stock opened at $85.43 on Monday. The business has a 50-day moving average price of $102.16 and a two-hundred day moving average price of $98.79. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a market cap of $97.04 billion, a P/E ratio of 27.56, 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 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 earnings per share. Equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

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