FourThought Financial Partners LLC Sells 134 Shares of Starbucks Corporation (NASDAQ:SBUX)

FourThought Financial Partners LLC trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,770 shares of the coffee company’s stock after selling 134 shares during the quarter. FourThought Financial Partners LLC’s holdings in Starbucks were worth $468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks during the fourth quarter valued at about $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks during the first quarter valued at about $27,000. Kapitalo Investimentos Ltda purchased a new position in shares of Starbucks during the fourth quarter valued at about $32,000. Ball & Co Wealth Management Inc. purchased a new position in shares of Starbucks during the fourth quarter valued at about $41,000. Finally, Accredited Wealth Management LLC purchased a new position in shares of Starbucks during the fourth quarter valued at about $44,000. 72.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SBUX. UBS Group reiterated a “neutral” rating on shares of Starbucks in a research report on Monday, July 21st. Bank of America upped their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Wall Street Zen cut shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Evercore ISI restated an “outperform” rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and a consensus target price of $98.58.

Starbucks Price Performance

Shares of Starbucks stock opened at $94.42 on Friday. The company’s fifty day simple moving average is $91.05 and its 200-day simple moving average is $94.65. The stock has a market capitalization of $107.30 billion, a PE ratio of 34.21, a P/E/G ratio of 6.55 and a beta of 1.02. Starbucks Corporation has a 1-year low of $72.72 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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). The business had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, August 15th. Starbucks’s dividend payout ratio is presently 88.41%.

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.