Starbucks Co. (NASDAQ:SBUX) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. decreased its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 115,241 shares of the coffee company's stock after selling 3,017 shares during the period. Benjamin Edwards Inc.'s holdings in Starbucks were worth $10,516,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SBUX. BIP Wealth LLC increased its holdings in Starbucks by 25.4% during the fourth quarter. BIP Wealth LLC now owns 2,711 shares of the coffee company's stock valued at $247,000 after buying an additional 549 shares during the period. BNP Paribas increased its holdings in shares of Starbucks by 9.9% in the 4th quarter. BNP Paribas now owns 23,812 shares of the coffee company's stock valued at $2,160,000 after acquiring an additional 2,153 shares during the period. Alteri Wealth LLC bought a new position in shares of Starbucks in the 4th quarter worth $378,000. Aptus Capital Advisors LLC lifted its stake in shares of Starbucks by 39.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 18,356 shares of the coffee company's stock worth $1,675,000 after purchasing an additional 5,171 shares during the last quarter. Finally, Absoluto Partners Gestao de Recursos Ltda grew its stake in Starbucks by 11.8% in the fourth quarter. Absoluto Partners Gestao de Recursos Ltda now owns 21,038 shares of the coffee company's stock valued at $1,920,000 after purchasing an additional 2,218 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus cut their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. TD Securities lowered their price objective on Starbucks from $102.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets decreased their price target on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada dropped their price target on Starbucks from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $98.72.

Starbucks Trading Down 0.1 %

NASDAQ:SBUX traded down $0.07 during trading hours on Wednesday, reaching $82.71. 8,223,786 shares of the company were exchanged, compared to its average volume of 11,282,925. The firm has a market cap of $93.99 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock's 50-day moving average is $91.30 and its 200-day moving average is $97.10.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The company's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.95%. Starbucks's 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.