Western Wealth Management LLC Sells 14,427 Shares of Starbucks Co. (NASDAQ:SBUX)

Western Wealth Management LLC reduced its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 53.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,418 shares of the coffee company's stock after selling 14,427 shares during the period. Western Wealth Management LLC's holdings in Starbucks were worth $1,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Financial Life Planners bought a new position in Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC acquired a new position in shares of Starbucks during the 4th quarter valued at about $26,000. Collier Financial acquired a new position in shares of Starbucks during the 4th quarter valued at about $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks in the 4th quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new stake in Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $0.90 during midday trading on Wednesday, reaching $86.11. 4,494,109 shares of the company's stock were exchanged, compared to its average volume of 11,089,952. The company's 50 day simple moving average is $86.24 and its two-hundred day simple moving average is $95.89. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market capitalization of $97.86 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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). The business had revenue of $8.76 billion during 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 business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. On average, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.83%. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SBUX shares. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. TD Securities cut their target price on shares of Starbucks from $102.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Guggenheim decreased their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Stifel Nicolaus dropped their price objective on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and an average target price of $98.72.

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.