Starbucks Co. (NASDAQ:SBUX) Position Lessened by Formidable Asset Management LLC

Formidable Asset Management LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 11.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,574 shares of the coffee company’s stock after selling 2,431 shares during the quarter. Formidable Asset Management LLC’s holdings in Starbucks were worth $1,786,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital & Planning LLC lifted its stake in Starbucks by 40.7% during the fourth quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock valued at $1,099,000 after buying an additional 3,483 shares in the last quarter. Red Door Wealth Management LLC lifted its position in shares of Starbucks by 2.4% in the 4th quarter. Red Door Wealth Management LLC now owns 4,985 shares of the coffee company’s stock valued at $455,000 after acquiring an additional 118 shares in the last quarter. Secure Asset Management LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $238,000. Key Client Fiduciary Advisors LLC boosted its stake in Starbucks by 19.1% in the 4th quarter. Key Client Fiduciary Advisors LLC now owns 2,954 shares of the coffee company’s stock worth $270,000 after purchasing an additional 473 shares during the period. Finally, Brighton Jones LLC grew its position in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX stock opened at $84.40 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock’s fifty day moving average price is $86.78 and its two-hundred day moving average price is $96.04. The company has a market cap of $95.91 billion, a PE ratio of 27.23, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $8.90 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors 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 annualized dividend and a dividend yield of 2.89%. Starbucks’s dividend payout ratio is 88.41%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SBUX shares. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Starbucks in a research report on Friday, May 16th. The Goldman Sachs Group downgraded Starbucks from a “buy” rating to a “neutral” rating and dropped their target price for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Stifel Nicolaus reduced their price target on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research 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 objective on the stock in a research report on Wednesday, April 9th. Finally, UBS Group dropped their price objective on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.