Mackenzie Financial Corp Boosts Position in Starbucks Co. (NASDAQ:SBUX)

Mackenzie Financial Corp boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 153.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 252,850 shares of the coffee company’s stock after buying an additional 153,078 shares during the period. Mackenzie Financial Corp’s holdings in Starbucks were worth $23,073,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Financial Life Planners acquired a new stake in Starbucks in the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks in the 4th quarter valued at $25,000. Graney & King LLC acquired a new stake in Starbucks in the 4th quarter valued at $26,000. Collier Financial purchased a new position in Starbucks in the 4th quarter worth approximately $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several recent research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Stifel Nicolaus lowered their price objective on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets decreased their price objective on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. TD Securities decreased their price objective on shares of Starbucks from $102.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Finally, Wedbush upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.72.

Starbucks Trading Up 0.5%

Shares of Starbucks stock opened at $84.40 on Tuesday. The business’s 50 day simple moving average is $86.48 and its 200-day simple moving average is $95.95. The stock has a market capitalization of $95.91 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. Sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.89%. Starbucks’s dividend payout ratio is currently 88.41%.

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.