Donoghue Forlines LLC Takes $2.24 Million Position in Starbucks Corporation (NASDAQ:SBUX)

Donoghue Forlines LLC bought a new stake in Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,815 shares of the coffee company’s stock, valued at approximately $2,238,000.

A number of other institutional investors have also modified their holdings of the business. Capital World Investors grew its position in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after buying an additional 9,174,682 shares during the last quarter. Jennison Associates LLC purchased a new position in Starbucks in the 1st quarter valued at $817,759,000. Goldman Sachs Group Inc. grew its position in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after buying an additional 3,589,537 shares during the last quarter. Capital Research Global Investors grew its position in Starbucks by 167.6% in the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after buying an additional 3,563,942 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Starbucks by 218.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,552,921 shares of the coffee company’s stock valued at $446,596,000 after buying an additional 3,124,533 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 1.2%

Shares of SBUX stock opened at $92.12 on Friday. The firm has a 50-day moving average price of $92.27 and a 200 day moving average price of $94.41. Starbucks Corporation has a twelve month low of $74.75 and a twelve month high of $117.46. The company has a market capitalization of $104.71 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 5.19 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed 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 2.6%. Starbucks’s dividend payout ratio is currently 105.17%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SBUX shares. TD Cowen boosted their target price on shares of Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Citigroup decreased their target price on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. TD Securities restated a “hold” rating and set a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Finally, Wall Street Zen lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $101.27.

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.