Suvretta Capital Management LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Suvretta Capital Management LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 514,922 shares of the coffee company's stock after selling 35,387 shares during the period. Starbucks comprises approximately 1.6% of Suvretta Capital Management LLC's investment portfolio, making the stock its 18th biggest holding. Suvretta Capital Management LLC's holdings in Starbucks were worth $46,987,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Financial Life Planners purchased a new stake in shares of Starbucks during the 4th quarter worth $25,000. Graney & King LLC bought a new position in Starbucks in the fourth quarter worth about $26,000. Collier Financial purchased a new stake in shares of Starbucks during the fourth quarter valued at about $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

SBUX stock traded up $0.98 during trading on Tuesday, hitting $85.59. 9,308,284 shares of the company traded hands, compared to its average volume of 11,196,101. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company has a market cap of $97.26 billion, a PE ratio of 27.61, a P/E/G ratio of 3.59 and a beta of 0.99. The stock's 50-day simple moving average is $87.87 and its 200 day simple moving average is $96.39.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $8.90 billion. During the same period last year, the firm earned $0.68 earnings per share. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced 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. This represents a $2.44 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, May 16th. Starbucks's payout ratio is currently 88.41%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SBUX. Guggenheim decreased their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Barclays lowered their price objective on Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Wedbush upped their target price on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. TD Securities decreased their price target on Starbucks from $102.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of "Moderate Buy" and a consensus target price 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.