MainStreet Investment Advisors LLC Sells 55,097 Shares of Starbucks Co. (NASDAQ:SBUX)

MainStreet Investment Advisors LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 74.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,127 shares of the coffee company's stock after selling 55,097 shares during the quarter. MainStreet Investment Advisors LLC's holdings in Starbucks were worth $1,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after purchasing an additional 784,432 shares during the last quarter. Capital World Investors raised its holdings in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares in the last quarter. FMR LLC raised its holdings in shares of 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 acquiring an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Starbucks by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after acquiring an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Starbucks by 4.7% during 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 acquiring an additional 718,880 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $86.88 on Wednesday. The company's 50-day moving average is $89.11 and its 200 day moving average is $96.73. The company has a market capitalization of $98.73 billion, a price-to-earnings ratio of 28.03, 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 announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. As a group, research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business 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 2.81%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's payout ratio is presently 88.41%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SBUX. BMO Capital Markets decreased their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Barclays decreased their target price on Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.72.

Starbucks Company 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.

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