Starbucks Co. (NASDAQ:SBUX) Shares Sold by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 622,473 shares of the coffee company’s stock after selling 19,621 shares during the period. United Capital Financial Advisors LLC owned 0.05% of Starbucks worth $56,801,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC purchased a new position in Starbucks during the fourth quarter worth about $62,000. Arizona State Retirement System increased its holdings in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares during the last quarter. West Michigan Advisors LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. purchased a new position in Starbucks during the 4th quarter valued at about $258,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Starbucks during the fourth quarter worth $9,497,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.1 %

SBUX stock opened at $85.49 on Tuesday. The company has a market capitalization of $97.11 billion, a P/E ratio of 27.58, a PEG ratio of 3.59 and a beta of 1.00. The firm has a 50 day simple moving average of $101.63 and a 200-day simple moving average of $98.70. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 posted $0.90 EPS. On average, research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.85%. Starbucks’s payout ratio is currently 78.71%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Citigroup cut their target price on Starbucks from $100.00 to $88.00 and set a “neutral” rating on the stock in a research report on Friday. Wedbush increased their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Two 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’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $104.68.

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.