Starbucks Co. (NASDAQ:SBUX) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. cut its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,445,615 shares of the coffee company's stock after selling 22,978 shares during the period. Baird Financial Group Inc. owned approximately 0.13% of Starbucks worth $131,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA bought a new position in Starbucks during the 4th quarter valued at about $131,000. BIP Wealth LLC boosted its holdings in Starbucks by 25.4% in the fourth quarter. BIP Wealth LLC now owns 2,711 shares of the coffee company's stock worth $247,000 after purchasing an additional 549 shares during the last quarter. BNP Paribas grew its position in Starbucks by 9.9% in the 4th quarter. BNP Paribas now owns 23,812 shares of the coffee company's stock worth $2,160,000 after purchasing an additional 2,153 shares during the period. Alteri Wealth LLC bought a new position in shares of Starbucks during the 4th quarter valued at $378,000. Finally, Aptus Capital Advisors LLC boosted its stake in shares of Starbucks by 39.2% in the 4th quarter. Aptus Capital Advisors LLC now owns 18,356 shares of the coffee company's stock worth $1,675,000 after buying an additional 5,171 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of SBUX stock traded down $0.07 during mid-day trading on Wednesday, hitting $82.71. The stock had a trading volume of 8,223,786 shares, compared to its average volume of 11,282,925. The firm has a market capitalization of $93.99 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The firm's 50-day moving average is $91.96 and its two-hundred day moving average is $97.20.

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

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given 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 2.95%. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SBUX. Wells Fargo & Company dropped their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. StockNews.com lowered Starbucks from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Citigroup decreased their price objective on Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Finally, BMO Capital Markets reduced their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and a consensus price target of $98.72.

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.