Exeter Financial LLC Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Exeter Financial LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,699 shares of the coffee company’s stock after selling 519 shares during the period. Exeter Financial LLC’s holdings in Starbucks were worth $1,540,000 as of its most recent SEC filing.

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

Starbucks Trading Down 2.3%

Shares of NASDAQ SBUX opened at $84.05 on Friday. The firm has a 50 day moving average of $85.78 and a 200 day moving average of $95.71. The firm has a market capitalization of $95.51 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth 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.

Starbucks (NASDAQ:SBUX) last announced its 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). 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%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. Sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors 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 yield of 2.90%. Starbucks’s dividend payout ratio (DPR) is 88.41%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SBUX shares. Citigroup lowered their price target on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets decreased their target price on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their target price 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, The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $97.92.

Starbucks Company 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.