Cercano Management LLC Acquires 294,228 Shares of Starbucks Co. (NASDAQ:SBUX)

Cercano Management LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 9,873.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 297,208 shares of the coffee company's stock after purchasing an additional 294,228 shares during the period. Cercano Management LLC's holdings in Starbucks were worth $27,120,000 as of its most recent SEC filing.

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Other institutional investors also recently bought and sold shares of the company. Financial Life Planners purchased a new position in Starbucks in the fourth quarter valued at about $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $26,000. Collier Financial bought a new stake in shares of Starbucks in the 4th quarter valued at about $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Finally, Marshall Investment Management LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $30,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $81.66 on Tuesday. The company has a market capitalization of $92.80 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company's fifty day moving average price is $92.60 and its 200 day moving average price is $97.30. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

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Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The company's revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed 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. This represents a $2.44 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's payout ratio is currently 88.41%.

Analysts Set New Price Targets

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Several equities analysts have issued reports on SBUX shares. Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. StockNews.com cut Starbucks from a "hold" rating to a "sell" rating in a research note on Friday. Stifel Nicolaus dropped their price target on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, 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. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $98.72.

Read Our Latest Stock Analysis on Starbucks

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.

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