Becker Capital Management Inc. Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Becker Capital Management Inc. lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,500 shares of the coffee company’s stock after selling 2,835 shares during the quarter. Becker Capital Management Inc.’s holdings in Starbucks were worth $8,076,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SBUX. Norges Bank purchased a new position in Starbucks during the 4th quarter valued at approximately $1,244,812,000. Capital World Investors grew its holdings in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. FMR LLC lifted its stake in shares of Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Starbucks by 167.6% in the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after purchasing an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Starbucks in the 4th quarter worth approximately $284,283,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SBUX. Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Robert W. Baird restated a “neutral” rating and set a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Barclays dropped their price objective on Starbucks from $124.00 to $106.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, Guggenheim dropped their price objective on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.60.

Starbucks Stock Performance

SBUX stock opened at $84.85 on Wednesday. The stock has a market capitalization of $96.38 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock’s fifty day moving average is $95.08 and its two-hundred day moving average is $97.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. As a group, analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio (DPR) is 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.