Snowden Capital Advisors LLC Sells 6,395 Shares of Starbucks Co. (NASDAQ:SBUX)

Snowden Capital Advisors LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,125 shares of the coffee company's stock after selling 6,395 shares during the quarter. Snowden Capital Advisors LLC's holdings in Starbucks were worth $3,388,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SBUX. Rafferty Asset Management LLC increased its position in Starbucks by 16.7% in the 4th quarter. Rafferty Asset Management LLC now owns 251,470 shares of the coffee company's stock valued at $22,947,000 after acquiring an additional 35,983 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Starbucks in the 4th quarter valued at about $710,000. Ratan Capital Management LP boosted its stake in shares of Starbucks by 36.5% in the 4th quarter. Ratan Capital Management LP now owns 172,000 shares of the coffee company's stock valued at $15,695,000 after purchasing an additional 45,996 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Starbucks in the 4th quarter valued at about $1,262,000. Finally, ProShare Advisors LLC boosted its stake in shares of Starbucks by 20.8% in the 4th quarter. ProShare Advisors LLC now owns 1,456,615 shares of the coffee company's stock valued at $132,916,000 after purchasing an additional 250,989 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of SBUX stock traded up $0.98 during trading hours on Tuesday, hitting $85.59. 9,308,284 shares of the company were exchanged, compared to its average volume of 11,196,101. The firm has a market cap of $97.26 billion, a P/E ratio of 27.61, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a 50 day simple moving average of $87.87 and a two-hundred day simple moving average of $96.39.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 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 for the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the business earned $0.68 EPS. The business's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders 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 yield of 2.85%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio is 88.41%.

Analysts Set New Price Targets

Several research analysts recently weighed in on SBUX shares. Stifel Nicolaus reduced their price objective on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Citigroup cut their price target 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. JPMorgan Chase & Co. lowered their price objective on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, TD Securities reduced their price objective 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company 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.