Beacon Investment Advisory Services Inc. cut its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,332 shares of the coffee company's stock after selling 11,097 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Starbucks were worth $6,310,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after acquiring an additional 81,952 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Starbucks by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 63,096 shares of the coffee company's stock worth $5,859,000 after purchasing an additional 260 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Starbucks by 64.3% during the fourth quarter. Teacher Retirement System of Texas now owns 66,843 shares of the coffee company's stock worth $6,099,000 after purchasing an additional 26,164 shares during the period. Virtu Financial LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $1,284,000. Finally, LPL Financial LLC increased its holdings in Starbucks by 7.6% in the 4th quarter. LPL Financial LLC now owns 2,096,630 shares of the coffee company's stock worth $191,382,000 after buying an additional 147,944 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.
Analyst Ratings Changes
A number of research firms have issued reports on SBUX. UBS Group reissued a "neutral" rating on shares of Starbucks in a research report on Monday. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Wells Fargo & Company lowered their price target on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective for the company. in a research note on Thursday, July 17th. Finally, Bank of America raised their target price on Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Starbucks currently has a consensus rating of "Hold" and a consensus price target of $98.58.
View Our Latest Analysis on Starbucks
Starbucks Trading Down 2.3%
NASDAQ:SBUX traded down $2.22 during trading hours on Thursday, hitting $93.70. 7,894,263 shares of the stock were exchanged, compared to its average volume of 7,867,497. The firm's fifty day moving average price is $90.74 and its 200 day moving average price is $94.62. Starbucks Corporation has a 52-week low of $72.72 and a 52-week high of $117.46. The company has a market cap of $106.48 billion, a P/E ratio of 33.95, a P/E/G ratio of 6.63 and a beta of 1.02.
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 the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.
Starbucks Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is 88.41%.
Starbucks Company 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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