Sierra Summit Advisors LLC Takes $903,000 Position in Starbucks Co. (NASDAQ:SBUX)

Sierra Summit Advisors LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,900 shares of the coffee company’s stock, valued at approximately $903,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pioneer Trust Bank N A OR lifted its position in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after purchasing an additional 92 shares during the last quarter. Wintrust Investments LLC increased its stake in shares of Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel raised its holdings in shares of Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after buying an additional 96 shares during the last quarter. Wellington Shields & Co. LLC boosted its position in shares of Starbucks by 8.6% during the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock worth $115,000 after buying an additional 100 shares during the period. Finally, Mystic Asset Management Inc. grew its holdings in Starbucks by 3.9% in the 4th quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock worth $243,000 after buying an additional 101 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus increased their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Trading Down 7.0 %

NASDAQ SBUX opened at $82.10 on Monday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock’s 50-day moving average price is $105.32 and its two-hundred day moving average price is $99.41. The company has a market cap of $93.26 billion, a PE ratio of 26.48, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm posted $0.90 earnings per share. Research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

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

About Starbucks

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.