Nkcfo LLC Buys 1,150 Shares of Starbucks Corporation (NASDAQ:SBUX)

Nkcfo LLC raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,500 shares of the coffee company’s stock after acquiring an additional 1,150 shares during the period. Starbucks makes up about 1.8% of Nkcfo LLC’s investment portfolio, making the stock its 18th largest position. Nkcfo LLC’s holdings in Starbucks were worth $3,776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the period. RiverFront Investment Group LLC grew its stake in shares of Starbucks by 9.0% during the fourth quarter. RiverFront Investment Group LLC now owns 5,319 shares of the coffee company’s stock valued at $485,000 after buying an additional 440 shares during the last quarter. Allstate Corp purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $3,069,000. Allianz SE purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $406,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Starbucks during the 4th quarter worth approximately $602,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $94.42 on Monday. The company’s 50-day simple moving average is $91.05 and its 200-day simple moving average is $94.66. Starbucks Corporation has a fifty-two week low of $72.72 and a fifty-two week high of $117.46. The stock has a market capitalization of $107.30 billion, a P/E ratio of 34.21, a P/E/G ratio of 6.55 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the business earned $0.68 earnings per share. Starbucks’s revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio is currently 88.41%.

Analyst Ratings Changes

Several brokerages have commented on SBUX. Wall Street Zen downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Sanford C. Bernstein lifted their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. TD Securities restated a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Finally, Cowen reaffirmed a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $98.58.

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.