Starbucks Co. (NASDAQ:SBUX) Shares Sold by Axa S.A.

AXA S.A. lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 54.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,200 shares of the coffee company's stock after selling 209,425 shares during the quarter. AXA S.A.'s holdings in Starbucks were worth $15,987,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $62,000. Arizona State Retirement System boosted its holdings in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter worth approximately $265,000. Wernau Asset Management Inc. bought a new stake in Starbucks during the 4th quarter valued at $258,000. Finally, OFI Invest Asset Management acquired a new stake in Starbucks in the fourth quarter valued at approximately $9,497,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group downgraded shares of Starbucks from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Royal Bank of Canada reduced their price target on shares of Starbucks from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Guggenheim reduced their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, StockNews.com lowered Starbucks from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $98.72.

Starbucks Stock Down 0.1 %

Shares of SBUX traded down $0.07 during mid-day trading on Wednesday, reaching $82.71. 8,223,786 shares of the company's stock were exchanged, compared to its average volume of 11,282,925. The company has a market cap of $93.99 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 3.59 and a beta of 0.99. The company has a 50-day simple moving average of $91.30 and a two-hundred day simple moving average of $97.10. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

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

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. 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 currently 88.41%.

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.