Starbucks Co. (NASDAQ:SBUX) Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. cut its position in Starbucks Co. (NASDAQ:SBUX) by 2.8% in the fourth quarter, Holdings Channel reports. The firm owned 59,601 shares of the coffee company’s stock after selling 1,727 shares during the period. Capital Group Private Client Services Inc.’s holdings in Starbucks were worth $5,439,000 as of its most recent filing with the Securities & Exchange Commission.

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

Starbucks Stock Up 0.9 %

Shares of NASDAQ:SBUX opened at $81.50 on Friday. The company has a market capitalization of $92.58 billion, a P/E ratio of 26.29, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock’s fifty day simple moving average is $99.25 and its 200-day simple moving average is $98.26.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company posted $0.90 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.99%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent research reports. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus cut their price target on Starbucks from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company upped their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, BMO Capital Markets lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.24.

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.