Starbucks Co. (NASDAQ:SBUX) Shares Sold by Comerica Bank

Comerica Bank decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,376 shares of the coffee company's stock after selling 28,631 shares during the quarter. Comerica Bank's holdings in Starbucks were worth $26,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $62,000. Arizona State Retirement System boosted its holdings in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $258,000. Finally, OFI Invest Asset Management acquired a new position in shares of Starbucks during the fourth quarter worth $9,497,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $2.68 during trading hours on Friday, hitting $84.69. The stock had a trading volume of 13,504,780 shares, compared to its average volume of 11,361,004. The stock's fifty day simple moving average is $93.22 and its 200 day simple moving average is $97.39. The firm has a market capitalization of $96.20 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. As a group, research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.88%. Starbucks's payout ratio is 78.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SBUX shares. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Wells Fargo & Company reduced their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. BMO Capital Markets dropped their price objective on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday. Stifel Nicolaus cut their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.