Bath Savings Trust Co Sells 4,761 Shares of Starbucks Co. (NASDAQ:SBUX)

Bath Savings Trust Co decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 26.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,425 shares of the coffee company’s stock after selling 4,761 shares during the quarter. Bath Savings Trust Co’s holdings in Starbucks were worth $1,317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. Financial Life Planners bought a new position in shares of Starbucks during the 4th quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks in the fourth quarter valued at about $25,000. Graney & King LLC bought a new position in Starbucks in the fourth quarter worth about $26,000. Collier Financial purchased a new stake in shares of Starbucks during the fourth quarter valued at about $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Starbucks during the fourth quarter valued at about $27,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. Cowen downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday. TD Cowen reaffirmed a “hold” rating and issued a $90.00 price target on shares of Starbucks in a report on Thursday. BMO Capital Markets decreased their price objective on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Citigroup lowered their price objective on Starbucks from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Three 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, Starbucks has a consensus rating of “Hold” and an average price target of $97.92.

Starbucks Stock Performance

Shares of SBUX opened at $84.05 on Friday. The stock has a 50-day moving average of $85.78 and a two-hundred day moving average of $95.71. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The stock has a market cap of $95.51 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 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 firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the firm posted $0.68 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.90%. Starbucks’s dividend 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.