Caisse DE Depot ET Placement DU Quebec Sells 225,000 Shares of Starbucks Co. (NASDAQ:SBUX)

Caisse DE Depot ET Placement DU Quebec cut its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 30.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 519,200 shares of the coffee company's stock after selling 225,000 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Starbucks were worth $47,377,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Pioneer Trust Bank N A OR grew its holdings in shares of Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after purchasing an additional 92 shares in the last quarter. Wintrust Investments LLC increased its holdings in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after buying an additional 94 shares during the period. Kuhn & Co Investment Counsel lifted its stake in Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock worth $387,000 after purchasing an additional 96 shares during the last quarter. Foster Dykema Cabot & Partners LLC boosted its stake 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 buying an additional 97 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after purchasing an additional 97 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent research reports. StockNews.com cut Starbucks from a "hold" rating to a "sell" rating in a report on Friday. Wells Fargo & Company decreased their price target on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Wedbush lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price for the company in a research report on Wednesday, April 9th. Finally, Barclays decreased their price target on Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Three equities research 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's stock. Based on data from MarketBeat, Starbucks presently has an average rating of "Hold" and an average price target of $98.72.

Starbucks Trading Up 1.4 %

Shares of NASDAQ:SBUX traded up $1.12 during trading on Tuesday, reaching $82.78. 10,511,803 shares of the company traded hands, compared to its average volume of 11,365,628. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The business's fifty day moving average is $92.60 and its 200-day moving average is $97.30. The firm has a market capitalization of $94.07 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 3.59 and a beta of 0.99.

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 (EPS) 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 business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's 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.