Castle Rock Wealth Management LLC Decreases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Castle Rock Wealth Management LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,454 shares of the coffee company's stock after selling 3,129 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Starbucks were worth $1,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Fifth Third Wealth Advisors LLC raised its stake in shares of Starbucks by 28.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 32,608 shares of the coffee company's stock valued at $3,199,000 after acquiring an additional 7,197 shares during the period. Fulcrum Capital LLC purchased a new position in Starbucks in the 1st quarter worth about $591,000. Somerset Trust Co increased its stake in Starbucks by 10.0% in the 1st quarter. Somerset Trust Co now owns 6,009 shares of the coffee company's stock worth $589,000 after buying an additional 547 shares during the period. Lantz Financial LLC increased its stake in Starbucks by 27.5% in the 1st quarter. Lantz Financial LLC now owns 3,675 shares of the coffee company's stock worth $360,000 after buying an additional 793 shares during the period. Finally, Red Spruce Capital LLC purchased a new position in Starbucks in the 1st quarter worth about $1,493,000. Institutional investors own 72.29% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SBUX. TD Cowen reaffirmed a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. Wells Fargo & Company dropped their target price 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. Robert W. Baird reiterated a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a report on Wednesday, April 9th. Finally, BMO Capital Markets dropped their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $97.92.

Starbucks Stock Performance

SBUX traded up $0.13 on Thursday, reaching $88.24. 2,903,630 shares of the company's stock were exchanged, compared to its average volume of 11,045,865. The company's 50 day moving average is $84.85 and its 200-day moving average is $95.35. The company has a market cap of $100.28 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its 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). The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. Sell-side analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Friday, May 16th. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Starbucks 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.