Cullen Investment Group LTD. Takes $10.85 Million Position in Starbucks Co. (NASDAQ:SBUX)

Cullen Investment Group LTD. acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 113,043 shares of the coffee company’s stock, valued at approximately $10,853,000. Starbucks comprises about 1.9% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 10th biggest position.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after acquiring an additional 387,632 shares during the period. State Street Corp boosted its position in shares of Starbucks by 0.3% in the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock worth $4,594,235,000 after purchasing an additional 135,644 shares during the period. Morgan Stanley increased its stake in shares of Starbucks by 46.3% in the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after purchasing an additional 8,451,599 shares in the last quarter. Northern Trust Corp raised its position in shares of Starbucks by 1.5% during the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after purchasing an additional 232,031 shares during the period. Finally, Norges Bank purchased a new position in shares of Starbucks during the 4th quarter valued at $1,222,931,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX traded up $0.70 during trading hours on Monday, hitting $85.62. 1,922,484 shares of the stock were exchanged, compared to its average volume of 8,271,267. The stock’s 50-day moving average price is $91.86 and its two-hundred day moving average price is $94.61. The company has a market cap of $96.94 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUXGet Free Report) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS. On average, research analysts expect that Starbucks Co. will post 4.05 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.66%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Activity

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 4,000 shares of company stock worth $375,665 over the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent research reports. Robert W. Baird dropped their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Piper Sandler reduced their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. TD Cowen reaffirmed a “hold” rating and issued a $100.00 price target on shares of Starbucks in a report on Thursday. Wedbush restated a “neutral” rating and set a $95.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, StockNews.com cut Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.71.

Read Our Latest Analysis on SBUX

Starbucks Profile

(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.

Featured Stories

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXFree Report).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.