Rhumbline Advisers Has $213.33 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Rhumbline Advisers cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,174,794 shares of the coffee company's stock after selling 54,507 shares during the period. Rhumbline Advisers owned approximately 0.19% of Starbucks worth $213,325,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks during the fourth quarter worth approximately $62,000. Arizona State Retirement System grew its stake in shares of Starbucks by 0.8% in 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 in the last quarter. West Michigan Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter worth approximately $265,000. Wernau Asset Management Inc. purchased a new stake in Starbucks during the 4th quarter worth about $258,000. Finally, Vanguard Capital Wealth Advisors acquired a new position in shares of Starbucks in the 4th quarter valued at $285,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 1.7%

NASDAQ:SBUX traded up $1.41 during trading hours on Tuesday, reaching $86.60. 8,284,436 shares of the company's stock were exchanged, compared to its average volume of 11,097,406. The company has a market capitalization of $98.41 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The business's 50-day simple moving average is $85.28 and its two-hundred day simple moving average is $95.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $8.76 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks's payout ratio is 88.41%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 price target (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada downgraded shares of Starbucks from an "outperform" rating to a "sector perform" rating in a research note on Thursday, May 29th. Barclays lowered their price target on Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, BMO Capital Markets reduced 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 research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $97.92.

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.