Starbucks Co. (NASDAQ:SBUX) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,125 shares of the coffee company’s stock after selling 7,661 shares during the period. Pathstone Holdings LLC’s holdings in Starbucks were worth $16,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Financial Life Planners purchased a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. Graney & King LLC acquired a new stake in Starbucks in the fourth quarter valued at $26,000. Collier Financial purchased a new stake in shares of Starbucks during the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks during the 4th quarter worth $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Starbucks in the 4th quarter valued at about $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SBUX shares. Royal Bank of Canada lowered their target price on shares of Starbucks from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Barclays dropped their price objective on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Citigroup decreased their target price on Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus lowered their price objective on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.72.

Starbucks Stock Down 0.4%

SBUX stock opened at $86.54 on Thursday. The business has a fifty day simple moving average of $88.71 and a 200-day simple moving average of $96.66. The company has a market cap of $98.34 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

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

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.82%. Starbucks’s payout ratio 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.