Starbucks Co. (NASDAQ:SBUX) Shares Sold by Skyline Advisors Inc.

Skyline Advisors Inc. decreased its position in Starbucks Co. (NASDAQ:SBUX) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,182 shares of the coffee company’s stock after selling 373 shares during the quarter. Skyline Advisors Inc.’s holdings in Starbucks were worth $838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SBUX. Financial Life Planners purchased a new position in Starbucks during the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the 4th quarter worth approximately $25,000. Graney & King LLC purchased a new position in shares of Starbucks in the fourth quarter valued at $26,000. Collier Financial acquired a new position in Starbucks during the fourth quarter worth about $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX stock opened at $84.40 on Monday. The firm has a market cap of $95.91 billion, a PE ratio of 27.23, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a 50 day simple moving average of $86.78 and a 200 day simple moving average of $96.04.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business 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 company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued 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 dividend yield of 2.89%. Starbucks’s dividend payout ratio is 88.41%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. Robert W. Baird reaffirmed a “neutral” rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a report on Wednesday, April 9th. Finally, Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Starbucks currently has an average 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.