Bath Savings Trust Co Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bath Savings Trust Co trimmed its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,425 shares of the coffee company's stock after selling 4,761 shares during the quarter. Bath Savings Trust Co's holdings in Starbucks were worth $1,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after purchasing an additional 784,432 shares during the period. Capital World Investors boosted its stake in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. FMR LLC boosted its stake in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after buying an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Starbucks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after purchasing an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after purchasing an additional 718,880 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX traded up $1.17 during trading hours on Tuesday, reaching $86.36. The company's stock had a trading volume of 2,815,818 shares, compared to its average volume of 11,076,497. The firm has a market cap of $98.14 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company's 50-day moving average is $85.28 and its 200-day moving average is $95.46. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

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

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.83%. The ex-dividend date was Friday, May 16th. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SBUX shares. BMO Capital Markets cut their price target on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. TD Securities reissued a "hold" rating and set a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Citigroup dropped their price objective on Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. TD Cowen restated a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Thursday, May 29th. Finally, Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a research report on Tuesday, March 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $97.92.

Starbucks Company 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.