Tidal Investments LLC Trims Position in Starbucks Co. (NASDAQ:SBUX)

Tidal Investments LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,392 shares of the coffee company’s stock after selling 5,684 shares during the period. Tidal Investments LLC’s holdings in Starbucks were worth $4,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new position in Starbucks in the fourth quarter worth approximately $62,000. Arizona State Retirement System lifted its holdings in shares of Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after buying an additional 2,722 shares during the period. West Michigan Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter worth $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks during the 4th quarter worth $258,000. Finally, OFI Invest Asset Management purchased a new position in shares of Starbucks during the fourth quarter valued at $9,497,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SBUX. Baird R W lowered shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $103.00 to $85.00 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 on the stock in a research note on Tuesday, March 18th. Wedbush lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, May 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.72.

Starbucks Stock Up 1.2%

SBUX stock opened at $85.59 on Wednesday. The stock has a market capitalization of $97.26 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The firm has a 50 day moving average of $87.66 and a 200 day moving average of $96.31.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid 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 payout ratio is presently 88.41%.

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.