Bristol John W & Co. Inc. NY lessened its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,012,779 shares of the coffee company's stock after selling 23,498 shares during the quarter. Bristol John W & Co. Inc. NY owned approximately 0.09% of Starbucks worth $92,416,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in shares of Starbucks in the fourth quarter valued at approximately $62,000. Arizona State Retirement System lifted its holdings in Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new stake in Starbucks during the fourth quarter worth $265,000. Wernau Asset Management Inc. bought a new stake in Starbucks during the fourth quarter worth $258,000. Finally, Vanguard Capital Wealth Advisors bought a new stake in Starbucks during the fourth quarter worth $285,000. Institutional investors own 72.29% of the company's stock.
Starbucks Price Performance
Shares of NASDAQ:SBUX traded down $1.01 on Wednesday, hitting $86.00. The company's stock had a trading volume of 12,305,846 shares, compared to its average volume of 11,129,724. The company has a 50-day simple moving average of $86.02 and a 200 day simple moving average of $95.82. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company has a market capitalization of $97.73 billion, a PE ratio of 27.74, a PEG ratio of 3.59 and a beta of 0.99.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
Starbucks Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, May 16th. Starbucks's payout ratio is currently 88.41%.
Wall Street Analysts Forecast Growth
SBUX has been the topic of a number of recent analyst reports. UBS Group dropped their price target on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Stifel Nicolaus dropped their price target on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 price target on shares of Starbucks in a report on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $98.72.
Read Our Latest Report on SBUX
About Starbucks
(
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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