Starbucks Co. (NASDAQ:SBUX) Shares Bought by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 23.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 211,533 shares of the coffee company’s stock after purchasing an additional 40,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Starbucks were worth $19,302,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Financial Life Planners acquired a new position in shares of Starbucks in the 4th quarter worth $25,000. Graney & King LLC acquired a new stake in Starbucks during the 4th quarter worth about $26,000. Collier Financial acquired a new stake in Starbucks during the 4th quarter worth about $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks during the fourth quarter valued at about $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Starbucks in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 7.0 %

Shares of SBUX stock opened at $82.10 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a market cap of $93.26 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The business’s 50 day moving average is $105.32 and its two-hundred day moving average is $99.36.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the firm posted $0.90 EPS. As a group, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.97%. Starbucks’s payout ratio is 78.71%.

Analysts Set New Price Targets

SBUX has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wedbush upped their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.12.

Starbucks 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.