Sculati Wealth Management LLC Sells 840 Shares of Starbucks Co. (NASDAQ:SBUX)

Sculati Wealth Management LLC lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 14.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,902 shares of the coffee company’s stock after selling 840 shares during the period. Sculati Wealth Management LLC’s holdings in Starbucks were worth $447,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new position in Starbucks during the fourth quarter worth $62,000. Arizona State Retirement System boosted its position in Starbucks by 0.8% during 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 shares of Starbucks during the fourth quarter worth approximately $265,000. Wernau Asset Management Inc. bought a new stake in shares of Starbucks during the fourth quarter worth approximately $258,000. Finally, Vanguard Capital Wealth Advisors bought a new stake in shares of Starbucks during the fourth quarter worth approximately $285,000. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Barclays reduced their target price on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets reduced their target price on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Finally, Guggenheim reduced 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. Three research 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. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $98.72.

Starbucks Price Performance

NASDAQ SBUX opened at $84.40 on Monday. The business has a fifty day moving average price of $86.78 and a two-hundred day moving average price of $96.04. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a market capitalization 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 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). The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.89%. Starbucks’s dividend payout ratio (DPR) is currently 88.41%.

About Starbucks

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.