Titleist Asset Management LLC Sells 914 Shares of Starbucks Co. (NASDAQ:SBUX)

Titleist Asset Management LLC cut its position in Starbucks Co. (NASDAQ:SBUX) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,297 shares of the coffee company’s stock after selling 914 shares during the quarter. Titleist Asset Management LLC’s holdings in Starbucks were worth $848,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock valued at $10,138,442,000 after purchasing an additional 784,432 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Starbucks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock worth $2,259,516,000 after buying an additional 548,245 shares during the period. Wellington Management Group LLP grew its stake in Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after buying an additional 718,880 shares in the last quarter. Norges Bank bought a new stake in Starbucks during the 4th quarter valued at $1,244,812,000. Finally, Fisher Asset Management LLC lifted its position in shares of Starbucks by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock worth $1,087,406,000 after acquiring an additional 154,093 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company raised their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. UBS Group increased their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Price Performance

Shares of Starbucks stock opened at $82.10 on Monday. The stock has a market capitalization of $93.26 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The business’s 50 day simple moving average is $105.32 and its two-hundred day simple moving average is $99.41.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the company earned $0.90 earnings per share. Sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.97%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

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.