Starbucks Co. (NASDAQ:SBUX) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 49.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,334 shares of the coffee company's stock after selling 336,480 shares during the period. Confluence Investment Management LLC's holdings in Starbucks were worth $33,678,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Starbucks by 0.7% during 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 buying an additional 784,432 shares during the period. Capital World Investors boosted its holdings in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC boosted its holdings in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Starbucks by 2.3% in the fourth 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 during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Starbucks by 4.7% in the fourth 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 during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SBUX shares. TD Cowen reiterated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a report on Thursday. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target for the company in a report on Wednesday, April 9th. Finally, BMO Capital Markets cut their price objective 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 research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $97.92.

Starbucks Stock Performance

SBUX stock traded up $1.20 during midday trading on Monday, reaching $85.15. The stock had a trading volume of 3,293,524 shares, compared to its average volume of 11,089,470. The stock has a market cap of $96.76 billion, a PE ratio of 27.46, a P/E/G ratio of 3.59 and a beta of 0.99. The firm has a fifty day simple moving average of $85.54 and a two-hundred day simple moving average of $95.55. 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 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 firm had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. On average, sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks's dividend payout ratio is currently 88.41%.

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.