Piscataqua Savings Bank Decreases Holdings in Starbucks Co. (NASDAQ:SBUX)

Piscataqua Savings Bank cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 15.8% in the 1st quarter, HoldingsChannel reports. The firm owned 661 shares of the coffee company’s stock after selling 124 shares during the quarter. Piscataqua Savings Bank’s holdings in Starbucks were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks in the 4th quarter worth about $25,000. Graney & King LLC purchased a new position in shares of Starbucks in the fourth quarter worth about $26,000. Collier Financial purchased a new position in shares of Starbucks in the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks in the fourth quarter worth about $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Starbucks in the fourth quarter worth about $30,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of Starbucks stock opened at $89.64 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a market capitalization of $101.87 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company has a fifty day moving average of $84.45 and a 200-day moving average of $95.19.

Starbucks (NASDAQ:SBUX) last posted 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). The business 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 quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. On average, equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.61 per share. The ex-dividend date was Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.72%. Starbucks’s payout ratio is currently 88.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Royal Bank of Canada cut shares of Starbucks from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 29th. Barclays reduced their price target on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Wall Street Zen cut Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company reduced their target price on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $97.92.

Starbucks 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.