Gabelli Funds LLC Sells 425 Shares of Starbucks Co. (NASDAQ:SBUX)

Gabelli Funds LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 15,525 shares of the coffee company’s stock after selling 425 shares during the quarter. Gabelli Funds LLC’s holdings in Starbucks were worth $1,417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Jump Financial LLC raised its position in shares of Starbucks by 231.5% in the 4th quarter. Jump Financial LLC now owns 88,845 shares of the coffee company’s stock valued at $8,107,000 after buying an additional 62,045 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Starbucks by 0.6% during the fourth quarter. Guggenheim Capital LLC now owns 643,059 shares of the coffee company’s stock worth $58,679,000 after purchasing an additional 3,820 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Starbucks in the 4th quarter valued at $204,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Starbucks in the 4th quarter valued at $2,516,000. Finally, LaSalle St. Investment Advisors LLC raised its holdings in shares of Starbucks by 103.9% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 10,546 shares of the coffee company’s stock worth $962,000 after buying an additional 5,374 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $81.50 on Friday. The firm has a market cap of $92.58 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The business’s 50 day moving average price is $99.25 and its two-hundred day moving average price is $98.26.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 period in the previous year, the business earned $0.90 earnings per share. Research analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.99%. Starbucks’s payout ratio is currently 78.71%.

Analyst Ratings Changes

A number of research firms have recently commented on SBUX. Wells Fargo & Company increased their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Finally, Stifel Nicolaus reduced their price target on Starbucks from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $104.24.

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.