Williams Jones Wealth Management LLC. Has $1.10 Million Position in Starbucks Co. (NASDAQ:SBUX)

Williams Jones Wealth Management LLC. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,027 shares of the coffee company’s stock after selling 125 shares during the period. Williams Jones Wealth Management LLC.’s holdings in Starbucks were worth $1,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in Starbucks in the 4th quarter worth $25,000. Graney & King LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. Collier Financial bought a new stake in shares of Starbucks during the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks in the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC bought a new position in Starbucks in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $85.59 on Wednesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock has a market capitalization of $97.26 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company’s 50 day simple moving average is $87.66 and its 200 day simple moving average is $96.31.

Starbucks (NASDAQ:SBUX) last issued 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). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the company earned $0.68 EPS. Starbucks’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.85%. Starbucks’s dividend payout ratio is presently 88.41%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SBUX. Barclays cut their price objective on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a research note on Wednesday, April 9th. BMO Capital Markets lowered their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Guggenheim dropped their price target on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.72.

Starbucks Company 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.