Starbucks Co. (NASDAQ:SBUX) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA reduced its position in Starbucks Co. (NASDAQ:SBUX) by 3.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 163,961 shares of the coffee company’s stock after selling 5,194 shares during the quarter. Starbucks comprises about 1.7% of Jacobs & Co. CA’s holdings, making the stock its 12th largest position. Jacobs & Co. CA’s holdings in Starbucks were worth $16,083,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Capital & Planning LLC raised its holdings in shares of Starbucks by 40.7% in the fourth quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock worth $1,099,000 after acquiring an additional 3,483 shares during the last quarter. Brighton Jones LLC grew its stake in Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after acquiring an additional 81,952 shares during the period. Flagship Harbor Advisors LLC raised its holdings in Starbucks by 62.1% in the 4th quarter. Flagship Harbor Advisors LLC now owns 5,656 shares of the coffee company’s stock valued at $516,000 after acquiring an additional 2,167 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Starbucks by 35.9% during the 4th quarter. Pacer Advisors Inc. now owns 189,557 shares of the coffee company’s stock worth $17,297,000 after purchasing an additional 50,030 shares during the period. Finally, Perigon Wealth Management LLC boosted its holdings in shares of Starbucks by 16.7% during the fourth quarter. Perigon Wealth Management LLC now owns 32,849 shares of the coffee company’s stock worth $3,102,000 after purchasing an additional 4,689 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Guggenheim cut their price target on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Starbucks in a research report on Friday, May 16th. Finally, Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $98.72.

Starbucks Stock Performance

NASDAQ SBUX opened at $86.00 on Thursday. The firm has a market capitalization of $97.73 billion, a PE ratio of 27.74, a price-to-earnings-growth 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 company has a 50-day simple moving average of $86.02 and a 200-day simple moving average of $95.82.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the business earned $0.68 earnings per share. Starbucks’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given 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 2.84%. Starbucks’s dividend payout ratio is presently 88.41%.

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.