Starbucks Co. (NASDAQ:SBUX) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,388 shares of the coffee company's stock after selling 6,972 shares during the period. Starbucks makes up 1.3% of Cullen Investment Group LTD.'s investment portfolio, making the stock its 21st biggest holding. Cullen Investment Group LTD.'s holdings in Starbucks were worth $8,670,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SBUX. Capital & Planning LLC grew its holdings in shares of Starbucks by 40.7% during the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company's stock worth $1,099,000 after acquiring an additional 3,483 shares during the period. Brighton Jones LLC grew its position in Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of Starbucks by 62.1% during the 4th quarter. Flagship Harbor Advisors LLC now owns 5,656 shares of the coffee company's stock worth $516,000 after acquiring an additional 2,167 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Starbucks by 35.9% during the 4th quarter. Pacer Advisors Inc. now owns 189,557 shares of the coffee company's stock valued at $17,297,000 after purchasing an additional 50,030 shares during the period. Finally, Perigon Wealth Management LLC increased its holdings in Starbucks by 16.7% in the 4th quarter. Perigon Wealth Management LLC now owns 32,849 shares of the coffee company's stock valued at $3,102,000 after acquiring an additional 4,689 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

SBUX stock traded up $1.20 during midday trading on Monday, reaching $85.15. 3,293,524 shares of the company's stock traded hands, compared to its average volume of 11,089,470. The company has a market capitalization of $96.76 billion, a P/E ratio of 27.46, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The business has a 50-day moving average price of $85.54 and a two-hundred day moving average price of $95.55.

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

Starbucks Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. UBS Group dropped their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. The Goldman Sachs Group cut shares of Starbucks from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. Cowen downgraded shares of Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Guggenheim dropped their price objective on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $97.92.

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.