Bulltick Wealth Management LLC Sells 7,349 Shares of Starbucks Co. (NASDAQ:SBUX)

Bulltick Wealth Management LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,683 shares of the coffee company's stock after selling 7,349 shares during the period. Bulltick Wealth Management LLC's holdings in Starbucks were worth $2,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in Starbucks by 6.2% during the third quarter. Franklin Resources Inc. now owns 4,268,115 shares of the coffee company's stock valued at $404,458,000 after purchasing an additional 249,342 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in Starbucks by 59.5% during the fourth quarter. CWA Asset Management Group LLC now owns 7,929 shares of the coffee company's stock worth $724,000 after purchasing an additional 2,959 shares during the last quarter. ShankerValleau Wealth Advisors Inc. grew its position in Starbucks by 37.3% during the fourth quarter. ShankerValleau Wealth Advisors Inc. now owns 3,679 shares of the coffee company's stock valued at $336,000 after acquiring an additional 1,000 shares during the last quarter. Diversified Trust Co raised its position in Starbucks by 3.8% in the 4th quarter. Diversified Trust Co now owns 10,544 shares of the coffee company's stock worth $962,000 after purchasing an additional 383 shares during the period. Finally, Range Financial Group LLC increased its holdings in shares of Starbucks by 37.6% in the fourth quarter. Range Financial Group LLC now owns 6,143 shares of the coffee company's stock worth $561,000 after buying an additional 1,680 shares during the period. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SBUX. The Goldman Sachs Group cut Starbucks from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. Wells Fargo & Company dropped their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Barclays lowered their price target on Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group decreased their target price on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $98.72.

Starbucks Stock Performance

NASDAQ:SBUX traded down $0.07 on Wednesday, reaching $82.71. The company's stock had a trading volume of 8,223,786 shares, compared to its average volume of 11,282,925. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The business's 50-day moving average price is $91.30 and its two-hundred day moving average price is $97.10. The firm has a market cap of $93.99 billion, a PE ratio of 26.68, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

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