Davis Capital Management Sells 9,679 Shares of Starbucks Co. (NASDAQ:SBUX)

Davis Capital Management lessened its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 85.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,671 shares of the coffee company's stock after selling 9,679 shares during the quarter. Davis Capital Management's holdings in Starbucks were worth $164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the 4th quarter worth about $25,000. Graney & King LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. Collier Financial purchased a new position in Starbucks in the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the 4th quarter worth approximately $27,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 1.1%

Shares of SBUX traded up $1.03 during mid-day trading on Monday, reaching $90.67. The company's stock had a trading volume of 8,095,176 shares, compared to its average volume of 11,053,442. The business has a fifty day moving average of $84.45 and a 200 day moving average of $95.14. The company has a market cap of $103.04 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. Starbucks's revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.61 per share. The ex-dividend date was Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.69%. Starbucks's dividend payout ratio is 88.41%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup decreased their price objective on Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Wells Fargo & Company dropped their target price on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. Finally, Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and a consensus price target 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.