Beacon Pointe Advisors LLC Sells 8,807 Shares of Starbucks Co. (NASDAQ:SBUX)

Beacon Pointe Advisors LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 9.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 85,840 shares of the coffee company’s stock after selling 8,807 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Starbucks were worth $7,833,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SBUX. Quarry LP raised its holdings in Starbucks by 153.1% in the fourth quarter. Quarry LP now owns 4,884 shares of the coffee company’s stock worth $446,000 after purchasing an additional 2,954 shares during the period. Mendel Capital Management LLC increased its stake in Starbucks by 1.8% in the 4th quarter. Mendel Capital Management LLC now owns 5,721 shares of the coffee company’s stock valued at $522,000 after buying an additional 101 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management grew its position in shares of Starbucks by 13.1% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 6,487 shares of the coffee company’s stock valued at $592,000 after acquiring an additional 750 shares during the period. Prosperity Consulting Group LLC grew its position in shares of Starbucks by 5.6% in the 4th quarter. Prosperity Consulting Group LLC now owns 2,366 shares of the coffee company’s stock valued at $216,000 after acquiring an additional 125 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $23,248,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. Citigroup lowered their price objective on Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. UBS Group decreased their target price on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.38.

Starbucks Stock Up 0.1 %

NASDAQ SBUX opened at $83.90 on Tuesday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market capitalization of $95.30 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm has a 50 day moving average of $95.65 and a two-hundred day moving average of $97.75.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.91%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

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.