Nuveen Asset Management LLC Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Nuveen Asset Management LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,733,302 shares of the coffee company's stock after selling 631,329 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.21% of Starbucks worth $1,253,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Starbucks during the 4th quarter valued at about $1,244,812,000. Capital World Investors boosted its position in shares of Starbucks by 20.1% during the 4th 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 during the last quarter. FMR LLC boosted its position in shares of Starbucks by 27.0% during the 4th 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 during the last quarter. Capital Research Global Investors boosted its position in shares of Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock valued at $519,230,000 after acquiring an additional 3,563,942 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Starbucks during the 4th quarter valued at about $284,283,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $1.69 during midday trading on Friday, reaching $85.57. 13,093,429 shares of the company's stock traded hands, compared to its average volume of 11,223,063. The company has a market cap of $97.24 billion, a price-to-earnings ratio of 27.60, a P/E/G 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. The stock has a 50 day moving average of $88.15 and a 200 day moving average of $96.50.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its 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). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the prior year, the company posted $0.68 EPS. The firm's revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. 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%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target for the company in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a research report on Tuesday, March 18th. Robert W. Baird restated a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Finally, Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" 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.