Curat Global LLC Makes New $801,000 Investment in Starbucks Co. (NASDAQ:SBUX)

by · The Cerbat Gem

Curat Global LLC bought a new position in Starbucks Co. (NASDAQ:SBUX – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,170 shares of the coffee company’s stock, valued at approximately $801,000. Starbucks comprises 1.0% of Curat Global LLC’s portfolio, making the stock its 29th biggest position.

Several other institutional investors have also recently made changes to their positions in SBUX. Norges Bank bought a new stake in Starbucks during the 4th quarter valued at about $1,244,812,000. Capital World Investors increased its holdings in Starbucks by 20.1% during the fourth 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 period. FMR LLC boosted its position in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Capital Research Global Investors boosted its position in Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after purchasing an additional 3,563,942 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Starbucks during the fourth quarter valued at about $284,283,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on SBUX shares. Barclays decreased their price target on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets lowered their price target on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. TD Cowen reaffirmed a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Finally, Stifel Nicolaus reduced their target price on Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.92.

Read Our Latest Stock Analysis on Starbucks

Starbucks Trading Down 1.3%

Shares of Starbucks stock opened at $86.99 on Friday. The company has a market capitalization of $98.86 billion, a PE ratio of 28.06, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock’s fifty day simple moving average is $84.63 and its 200 day simple moving average is $95.25.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business 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 business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, May 16th. Starbucks’s dividend payout ratio is 88.41%.

About Starbucks

(Free Report)

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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