Invst LLC Has $1.84 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Invst LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 20,160 shares of the coffee company’s stock after selling 607 shares during the period. Invst LLC’s holdings in Starbucks were worth $1,840,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in Starbucks in the fourth quarter worth $19,608,000. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks in the fourth quarter worth $25,000. Parr Mcknight Wealth Management Group LLC bought a new stake in Starbucks in the fourth quarter worth $3,476,000. Helium Advisors LLC bought a new stake in Starbucks in the fourth quarter worth $212,000. Finally, Sunbelt Securities Inc. boosted its holdings in Starbucks by 3.7% in the fourth quarter. Sunbelt Securities Inc. now owns 26,309 shares of the coffee company’s stock worth $2,383,000 after purchasing an additional 929 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $84.40 on Friday. The firm has a 50-day simple moving average of $86.78 and a 200 day simple moving average of $96.04. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a market cap of $95.91 billion, a PE ratio of 27.23, a PEG ratio of 3.59 and a beta of 0.99.

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 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 during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the company earned $0.68 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts forecast 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. This represents a $2.44 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 88.41%.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Starbucks in a report on Friday, May 16th. UBS Group decreased their price target on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Citigroup decreased their price target on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their price target on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.