Ethic Inc. Grows Holdings in Starbucks Co. (NASDAQ:SBUX)

Ethic Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 30.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,181 shares of the coffee company’s stock after purchasing an additional 7,123 shares during the quarter. Ethic Inc.’s holdings in Starbucks were worth $2,754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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 acquiring an additional 784,432 shares during the period. Capital World Investors raised its position in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. FMR LLC raised its position in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after acquiring an additional 5,348,790 shares during the period. Geode Capital Management LLC raised its position 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 worth $2,259,516,000 after acquiring an additional 548,245 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of 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 in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

SBUX stock opened at $80.30 on Monday. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The stock has a market cap of $91.25 billion, a PE ratio of 25.90, a P/E/G ratio of 3.59 and a beta of 0.99. The firm has a 50 day simple moving average of $90.00 and a two-hundred day simple moving average of $96.88.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same period in the prior year, the firm earned $0.68 EPS. Starbucks’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 3.04%. Starbucks’s dividend payout ratio is presently 88.41%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. TD Securities reduced their target price on shares of Starbucks from $102.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Wedbush lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.72.

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.