Jacobs & Co. CA Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Jacobs & Co. CA lessened its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 163,961 shares of the coffee company's stock after selling 5,194 shares during the period. Starbucks comprises 1.7% of Jacobs & Co. CA's holdings, making the stock its 12th biggest position. Jacobs & Co. CA's holdings in Starbucks were worth $16,083,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at about $62,000. Arizona State Retirement System lifted its position in Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after acquiring an additional 2,722 shares during the last quarter. West Michigan Advisors LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at $265,000. Wernau Asset Management Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at $258,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in shares of Starbucks during the 4th quarter valued at $285,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 0.4%

Starbucks stock traded down $0.37 during mid-day trading on Friday, hitting $83.68. The company's stock had a trading volume of 7,391,512 shares, compared to its average volume of 11,126,292. The firm has a market capitalization of $95.09 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock's fifty day moving average is $85.54 and its two-hundred day moving average is $95.60.

Starbucks (NASDAQ:SBUX - Get Free Report) last released 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). The business had revenue of $8.76 billion for 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 for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Robert W. Baird reiterated a "neutral" rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. Stifel Nicolaus decreased their price objective on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, TD Securities reaffirmed a "hold" rating and issued a $90.00 price target on shares of Starbucks in a report on Thursday. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and a consensus target price of $97.92.

About Starbucks

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.