Advisors Capital Management LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Advisors Capital Management LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,389 shares of the coffee company’s stock after selling 951 shares during the period. Advisors Capital Management LLC’s holdings in Starbucks were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of research analysts recently commented on SBUX shares. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a research note on Wednesday, April 9th. Stifel Nicolaus raised their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group upped their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.68.

Starbucks Price Performance

NASDAQ:SBUX opened at $85.49 on Tuesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market capitalization of $97.11 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The business’s fifty day moving average price is $101.63 and its 200 day moving average price is $98.70.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the firm posted $0.90 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business 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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio (DPR) is 78.71%.

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.