Pathstone Holdings LLC Has $16.35 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Pathstone Holdings LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,125 shares of the coffee company's stock after selling 7,661 shares during the period. Pathstone Holdings LLC's holdings in Starbucks were worth $16,345,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SBUX. Norges Bank acquired a new position in Starbucks in the fourth quarter valued at about $1,244,812,000. Capital World Investors increased 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 worth $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. FMR LLC raised its stake in shares of Starbucks by 27.0% in 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 during the last quarter. Capital Research Global Investors raised its stake in shares of Starbucks by 167.6% in the fourth 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. acquired a new position in shares of Starbucks in the 4th quarter worth approximately $284,283,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on SBUX. The Goldman Sachs Group downgraded Starbucks from a "buy" rating to a "neutral" rating and cut their price objective for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. StockNews.com raised Starbucks from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Barclays reduced their price target on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company reduced their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $98.72.

Starbucks Stock Performance

NASDAQ:SBUX traded down $1.69 during trading hours on Friday, hitting $85.57. The stock had a trading volume of 13,093,429 shares, compared to its average volume of 11,210,158. The business's 50 day moving average is $88.15 and its 200-day moving average is $96.50. 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.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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 business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the business posted $0.68 EPS. The business's quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

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 issued 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 2.85%. Starbucks's dividend payout ratio (DPR) is currently 88.41%.

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.