Park Square Financial Group LLC Purchases Shares of 2,283 Starbucks Co. (NASDAQ:SBUX)

Park Square Financial Group LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,283 shares of the coffee company’s stock, valued at approximately $208,000.

Several other institutional investors have also added to or reduced their stakes in SBUX. Capital & Planning LLC boosted its position in Starbucks by 40.7% during the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock valued at $1,099,000 after buying an additional 3,483 shares during the period. Brighton Jones LLC boosted its position in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after buying an additional 81,952 shares during the period. RFG Advisory LLC lifted its position in shares of Starbucks by 4.7% in the 4th quarter. RFG Advisory LLC now owns 10,524 shares of the coffee company’s stock worth $960,000 after purchasing an additional 472 shares during the period. Flagship Harbor Advisors LLC lifted its position in shares of Starbucks by 62.1% in the 4th quarter. Flagship Harbor Advisors LLC now owns 5,656 shares of the coffee company’s stock worth $516,000 after purchasing an additional 2,167 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Starbucks by 2.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 18,617 shares of the coffee company’s stock worth $1,699,000 after purchasing an additional 511 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $84.40 on Tuesday. The stock has a market capitalization of $95.91 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a 50-day simple moving average of $86.48 and a two-hundred day simple moving average of $95.95.

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

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.89%. Starbucks’s dividend payout ratio (DPR) is presently 88.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SBUX shares. Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Robert W. Baird reaffirmed a “neutral” rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Wells Fargo & Company dropped their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets dropped their target price 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. Finally, The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $103.00 to $85.00 in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.72.

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.