Financial Insights Inc. Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Financial Insights Inc. cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,919 shares of the coffee company’s stock after selling 223 shares during the quarter. Financial Insights Inc.’s holdings in Starbucks were worth $1,088,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Starbucks in the 4th quarter worth approximately $1,244,812,000. Capital World Investors lifted its holdings in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. FMR LLC boosted its position in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Capital Research Global Investors grew its stake in Starbucks by 167.6% in the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after purchasing an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at $284,283,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $84.40 on Tuesday. The company has a market cap of $95.91 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The firm has a fifty day moving average price of $86.48 and a two-hundred day moving average price of $95.95.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks’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. Equities research analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $103.00 to $85.00 in a research report on Wednesday, April 30th. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Jefferies Financial Group raised 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 downgraded Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.