Starbucks Co. (NASDAQ:SBUX) Position Trimmed by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,061,885 shares of the coffee company's stock after selling 143,072 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.27% of Starbucks worth $279,327,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pioneer Trust Bank N A OR boosted its stake in Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after acquiring an additional 92 shares during the period. Wintrust Investments LLC boosted its position in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel grew its stake in Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock worth $387,000 after buying an additional 96 shares during the last quarter. Foster Dykema Cabot & Partners LLC increased its position in Starbucks by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock worth $93,000 after buying an additional 97 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in Starbucks by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after buying an additional 97 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

NASDAQ:SBUX opened at $81.66 on Tuesday. The company has a market capitalization of $92.80 billion, a P/E ratio of 26.34, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock's 50 day moving average price is $92.60 and its 200 day moving average price is $97.30.

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 for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, sell-side analysts forecast 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 paid 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 2.99%. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SBUX. Citigroup dropped 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. Royal Bank of Canada lowered their target price on Starbucks from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets reduced their price target on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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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