Two Star Manager LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Two Star Manager LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 49.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,978 shares of the coffee company's stock after selling 47,453 shares during the period. Starbucks comprises 2.1% of Two Star Manager LLC's investment portfolio, making the stock its 16th largest position. Two Star Manager LLC's holdings in Starbucks were worth $4,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Strategic Wealth Partners Ltd. boosted its position in Starbucks by 30.7% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 116,797 shares of the coffee company's stock valued at $10,658,000 after buying an additional 27,428 shares during the period. Strive Asset Management LLC bought a new position in shares of Starbucks during the fourth quarter valued at about $284,000. Toronto Dominion Bank boosted its holdings in shares of Starbucks by 629.5% during the fourth quarter. Toronto Dominion Bank now owns 3,190,114 shares of the coffee company's stock worth $291,097,000 after purchasing an additional 2,752,809 shares during the period. Steadfast Capital Management LP bought a new stake in shares of Starbucks in the fourth quarter worth about $211,970,000. Finally, Shellback Capital LP purchased a new position in Starbucks during the 4th quarter valued at about $7,300,000. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Barclays cut their price target on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Guggenheim reduced their price objective on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. TD Securities decreased their price objective on shares of Starbucks from $102.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Citigroup cut their target price on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $98.72.

Starbucks Price Performance

SBUX stock traded up $0.98 during trading on Tuesday, hitting $85.59. 9,308,284 shares of the stock traded hands, compared to its average volume of 11,196,096. The stock has a market cap of $97.26 billion, a price-to-earnings ratio of 27.61, 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 firm's 50 day moving average is $87.66 and its two-hundred day moving average is $96.31.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the business earned $0.68 EPS. Starbucks's revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's payout ratio is currently 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.