Circle Wealth Management LLC Decreases Holdings in Starbucks Co. (NASDAQ:SBUX)

Circle Wealth Management LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 294,061 shares of the coffee company’s stock after selling 20,035 shares during the quarter. Starbucks makes up 0.6% of Circle Wealth Management LLC’s portfolio, making the stock its 17th biggest position. Circle Wealth Management LLC’s holdings in Starbucks were worth $26,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of 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. Capital World Investors boosted its holdings in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. FMR LLC lifted its position in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Starbucks by 2.3% in the fourth 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 last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock worth $1,448,030,000 after buying an additional 718,880 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Securities decreased their price target on shares of Starbucks from $102.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus reduced their target price on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Hold” and an average target price of $98.72.

Starbucks Price Performance

NASDAQ SBUX opened at $82.71 on Thursday. The business’s 50-day moving average is $91.30 and its 200 day moving average is $97.10. The stock has a market capitalization of $93.99 billion, a PE ratio of 26.68, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

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

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.95%. Starbucks’s dividend payout ratio (DPR) is currently 88.41%.

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.