Beacon Pointe Advisors LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,840 shares of the coffee company's stock after selling 8,807 shares during the period. Beacon Pointe Advisors LLC's holdings in Starbucks were worth $7,833,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pioneer Trust Bank N A OR lifted its position in Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after acquiring an additional 92 shares during the last quarter. Wintrust Investments LLC lifted its position in 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 acquiring an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel lifted its position in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock valued at $387,000 after acquiring an additional 96 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its position in Starbucks by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after acquiring an additional 97 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in Starbucks by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on SBUX shares. 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. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Barclays reduced their target price on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday. Guggenheim reduced their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $98.15.
Check Out Our Latest Stock Report on SBUX
Starbucks Trading Up 2.4 %
Shares of NASDAQ SBUX traded up $1.96 during trading on Thursday, reaching $82.01. The company had a trading volume of 18,308,636 shares, compared to its average volume of 11,445,657. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a market capitalization of $93.16 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a 50-day moving average price of $94.45 and a two-hundred day moving average price of $97.54.
Starbucks (NASDAQ:SBUX - Get Free Report) last released 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 negative return on equity of 44.97% and a net margin of 9.73%. The business's revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current year.
Starbucks Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.98%. Starbucks's payout ratio is currently 78.71%.
Starbucks Profile
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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.
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