Starbucks Corporation (NASDAQ:SBUX) Stake Lessened by Welch & Forbes LLC

Welch & Forbes LLC reduced its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,443 shares of the coffee company's stock after selling 3,678 shares during the period. Welch & Forbes LLC's holdings in Starbucks were worth $10,833,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Starbucks during the 4th quarter worth about $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks in the 4th quarter valued at $27,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks during the 1st quarter valued at $27,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Starbucks during the 4th quarter worth $32,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Robert W. Baird reissued 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 reaffirmed a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Royal Bank Of Canada upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Finally, Stifel Nicolaus lifted their target price on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $98.85.

Starbucks Stock Performance

Shares of SBUX traded up $0.74 during midday trading on Thursday, hitting $93.25. 6,270,281 shares of the stock traded hands, compared to its average volume of 10,784,783. The business's 50 day moving average price is $89.73 and its two-hundred day moving average price is $94.52. The firm has a market capitalization of $105.97 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 4.73 and a beta of 1.02. Starbucks Corporation has a 1-year low of $72.73 and a 1-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 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 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the company posted $0.68 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Starbucks Corporation 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, August 29th. Shareholders of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.62%. Starbucks's dividend payout ratio (DPR) is presently 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.