Charles Schwab Trust Co Sells 2,284 Shares of Starbucks Co. (NASDAQ:SBUX)

Charles Schwab Trust Co cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 24.2% during the first quarter, Holdings Channel.com reports. The fund owned 7,161 shares of the coffee company’s stock after selling 2,284 shares during the period. Charles Schwab Trust Co’s holdings in Starbucks were worth $702,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Strategic Financial Concepts LLC purchased a new stake in Starbucks in the fourth quarter worth $62,000. Arizona State Retirement System boosted its stake in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new position in Starbucks during the 4th quarter worth $265,000. Wernau Asset Management Inc. acquired a new position in shares of Starbucks during the fourth quarter valued at about $258,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in shares of Starbucks during the fourth quarter valued at $285,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $88.11 on Thursday. The firm has a 50-day simple moving average of $84.85 and a 200 day simple moving average of $95.35. The stock has a market cap of $100.13 billion, a PE ratio of 28.42, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (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 firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the prior year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s dividend payout ratio (DPR) is 88.41%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent research reports. Guggenheim dropped their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Citigroup lowered their price target on Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Cowen cut shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.92.

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.