Viking Fund Management LLC Sells 45,000 Shares of Starbucks Co. (NASDAQ:SBUX)

Viking Fund Management LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 52.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,000 shares of the coffee company's stock after selling 45,000 shares during the period. Viking Fund Management LLC's holdings in Starbucks were worth $3,924,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after purchasing an additional 784,432 shares during the period. Capital World Investors raised its holdings in shares of Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. FMR LLC lifted its stake in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC grew its position in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after buying an additional 548,245 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after buying an additional 718,880 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 1.3%

SBUX traded down $1.12 during trading on Thursday, hitting $86.99. The stock had a trading volume of 8,470,586 shares, compared to its average volume of 11,067,114. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a 50 day simple moving average of $84.85 and a 200-day simple moving average of $95.35. The firm has a market cap of $98.86 billion, a PE ratio of 28.06, a P/E/G ratio of 3.59 and a beta of 1.00.

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 company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The company's revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared 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 yield of 2.80%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SBUX shares. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Stifel Nicolaus lowered their price objective on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird restated a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Barclays lowered their price target on Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group lowered Starbucks from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $103.00 to $85.00 in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $97.92.

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.