Bennett Selby Investments LP Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Bennett Selby Investments LP lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,534 shares of the coffee company’s stock after selling 871 shares during the quarter. Starbucks accounts for 1.6% of Bennett Selby Investments LP’s investment portfolio, making the stock its 14th largest holding. Bennett Selby Investments LP’s holdings in Starbucks were worth $3,976,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital & Planning LLC boosted its position 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 raised its holdings in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Starbucks by 3.5% in the fourth quarter. Bleakley Financial Group LLC now owns 16,549 shares of the coffee company’s stock valued at $1,510,000 after acquiring an additional 552 shares in the last quarter. Silver Oak Securities Incorporated raised its holdings in shares of Starbucks by 54.7% during the fourth quarter. Silver Oak Securities Incorporated now owns 4,509 shares of the coffee company’s stock worth $408,000 after purchasing an additional 1,594 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $62,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Stifel Nicolaus lowered their price target on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Barclays cut their price target on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. TD Cowen reaffirmed a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. TD Securities reissued a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $103.00 to $85.00 in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $97.92.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $89.64 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market capitalization of $101.87 billion, a P/E ratio of 28.92, a P/E/G ratio of 3.59 and a beta of 1.00. The stock has a 50 day moving average price of $84.45 and a 200-day moving average price of $95.17.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 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 analysts’ expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 earnings per share. On average, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.72%. Starbucks’s dividend payout ratio 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.