Investors Research Corp Sells 5,913 Shares of Starbucks Co. (NASDAQ:SBUX)

Investors Research Corp cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 39.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,225 shares of the coffee company's stock after selling 5,913 shares during the period. Investors Research Corp's holdings in Starbucks were worth $905,000 at the end of the most recent quarter.

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

Starbucks Stock Performance

SBUX stock traded up $1.41 during midday trading on Tuesday, hitting $86.60. 8,283,397 shares of the company's stock were exchanged, compared to its average volume of 11,097,390. The stock's fifty day moving average price is $85.28 and its 200-day moving average price is $95.46. The company has a market cap of $98.41 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS 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 analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. On average, analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

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

Analysts Set New Price Targets

SBUX has been the subject of a number of recent research reports. BMO Capital Markets dropped their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Robert W. Baird restated a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Cowen cut shares of Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, Citigroup dropped their price target on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.