Lafayette Investments Inc. Sells 1,821 Shares of Starbucks Co. (NASDAQ:SBUX)

Lafayette Investments Inc. decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 72,142 shares of the coffee company’s stock after selling 1,821 shares during the period. Starbucks makes up 1.4% of Lafayette Investments Inc.’s holdings, making the stock its 20th largest position. Lafayette Investments Inc.’s holdings in Starbucks were worth $6,583,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in Starbucks in the fourth quarter valued at about $62,000. Arizona State Retirement System boosted its stake in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after acquiring an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new position in Starbucks during the 4th quarter worth approximately $265,000. Wernau Asset Management Inc. acquired a new position in Starbucks during the fourth quarter valued at approximately $258,000. Finally, OFI Invest Asset Management bought a new stake in Starbucks in the fourth quarter valued at approximately $9,497,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.1 %

SBUX stock opened at $85.49 on Tuesday. The business’s 50 day simple moving average is $101.63 and its 200 day simple moving average is $98.70. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The firm has a market capitalization of $97.11 billion, a PE ratio of 27.58, a PEG ratio of 3.59 and a beta of 1.00.

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

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, May 16th. Starbucks’s payout ratio is 78.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SBUX shares. UBS Group upped their price objective 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. Citigroup dropped their price target on Starbucks from $100.00 to $88.00 and set a “neutral” rating on the stock in a research report on Friday. Stifel Nicolaus increased their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Tuesday, March 18th. Finally, BMO Capital Markets increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.68.

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.