AlTi Global Inc. Sells 106,390 Shares of Starbucks Co. (NASDAQ:SBUX)

AlTi Global Inc. cut its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 85.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,573 shares of the coffee company's stock after selling 106,390 shares during the period. AlTi Global Inc.'s holdings in Starbucks were worth $1,697,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SBUX. Norges Bank acquired a new position in Starbucks during the 4th quarter valued at about $1,244,812,000. Capital World Investors boosted its position in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after buying an additional 9,174,682 shares during the period. FMR LLC grew its holdings in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after buying an additional 5,348,790 shares in the last quarter. Capital Research Global Investors increased its position in Starbucks by 167.6% in the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock valued at $519,230,000 after acquiring an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Starbucks during the 4th quarter valued at $284,283,000. Institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SBUX. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a report on Wednesday, April 9th. Royal Bank of Canada dropped their price target on shares of Starbucks from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. 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. Stifel Nicolaus dropped their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $98.72.

Starbucks Stock Performance

Shares of SBUX stock traded up $1.12 during trading on Tuesday, hitting $82.78. 10,692,969 shares of the company were exchanged, compared to its average volume of 11,337,309. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The business's 50-day simple moving average is $92.60 and its 200 day simple moving average is $97.30. The firm has a market capitalization of $94.07 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the prior year, the business earned $0.68 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.95%. Starbucks's dividend payout ratio is 88.41%.

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.