KMG Fiduciary Partners LLC Sells 13,130 Shares of Starbucks Co. (NASDAQ:SBUX)

KMG Fiduciary Partners LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 51.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,572 shares of the coffee company's stock after selling 13,130 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Starbucks were worth $1,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. TrinityPoint Wealth LLC lifted its position in Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after buying an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR lifted its position in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after buying an additional 92 shares during the last quarter. Wintrust Investments LLC lifted its position in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after buying an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel lifted its position in Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock worth $387,000 after buying an additional 96 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after buying an additional 97 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. Royal Bank of Canada downgraded Starbucks from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. Cowen downgraded Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Guggenheim lowered their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Finally, TD Cowen reiterated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. Three 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's stock. According to data from MarketBeat, Starbucks presently has a consensus rating of "Hold" and a consensus target price of $97.92.

Starbucks Stock Up 3.0%

Shares of SBUX stock opened at $89.64 on Monday. The stock has a market cap of $101.87 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.59 and a beta of 1.00. The business's fifty day moving average is $84.45 and its 200 day moving average is $95.14. 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 issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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%. Starbucks's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. Equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.72%. Starbucks's payout ratio is 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.

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