Baldwin Investment Management LLC Sells 150 Shares of Starbucks Co. (NASDAQ:SBUX)

Baldwin Investment Management LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,078 shares of the coffee company’s stock after selling 150 shares during the period. Baldwin Investment Management LLC’s holdings in Starbucks were worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent research reports. Citigroup cut their price target on Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday. The Goldman Sachs Group cut Starbucks from a “buy” rating to a “neutral” rating and cut their target price for the stock from $103.00 to $85.00 in a report on Wednesday. UBS Group lowered their price objective on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Royal Bank of Canada reduced their price objective on shares of Starbucks from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Barclays dropped 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. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $98.72.

Starbucks Stock Performance

Shares of Starbucks stock opened at $84.69 on Friday. The stock has a market capitalization of $96.20 billion, a P/E ratio of 27.32, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock’s 50-day simple moving average is $93.22 and its 200 day simple moving average is $97.39.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS 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 business had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast 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 paid 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 2.88%. Starbucks’s dividend payout ratio is currently 78.71%.

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.