Anchor Investment Management LLC Sells 1,997 Shares of Starbucks Co. (NASDAQ:SBUX)

Anchor Investment Management LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 16.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,368 shares of the coffee company’s stock after selling 1,997 shares during the period. Anchor Investment Management LLC’s holdings in Starbucks were worth $946,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Invst LLC lifted its position in Starbucks by 1.9% during the third quarter. Invst LLC now owns 20,767 shares of the coffee company’s stock valued at $2,025,000 after acquiring an additional 395 shares during the last quarter. Tudor Financial Inc. purchased a new stake in shares of Starbucks during the third quarter worth about $1,352,000. Fulcrum Equity Management increased its holdings in shares of Starbucks by 38.8% during the third quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company’s stock valued at $402,000 after acquiring an additional 1,151 shares in the last quarter. Sculati Wealth Management LLC raised its position in shares of Starbucks by 15.1% in the 3rd quarter. Sculati Wealth Management LLC now owns 10,291 shares of the coffee company’s stock valued at $940,000 after purchasing an additional 1,350 shares during the last quarter. Finally, World Investment Advisors LLC increased its stake in Starbucks by 1,941.0% during the 3rd quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company’s stock valued at $6,950,000 after purchasing an additional 67,799 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research analyst reports. Argus raised shares of 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. UBS Group increased their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Citigroup decreased their price objective on shares of Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Finally, Wells Fargo & Company boosted their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $104.24.

Starbucks Trading Down 2.1 %

NASDAQ:SBUX opened at $83.71 on Wednesday. The stock has a 50 day moving average of $101.07 and a two-hundred day moving average of $98.60. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market cap of $95.09 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.91%. Starbucks’s payout ratio is presently 78.71%.

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.