Starbucks Co. (NASDAQ:SBUX) Position Cut by KCM Investment Advisors LLC

KCM Investment Advisors LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 133,791 shares of the coffee company’s stock after selling 2,036 shares during the period. KCM Investment Advisors LLC’s holdings in Starbucks were worth $12,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Janus Henderson Group PLC raised its stake in shares of Starbucks by 12.0% in the 3rd quarter. Janus Henderson Group PLC now owns 181,612 shares of the coffee company’s stock worth $17,713,000 after buying an additional 19,406 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in Starbucks by 4.0% during the third quarter. Royal London Asset Management Ltd. now owns 468,505 shares of the coffee company’s stock valued at $45,675,000 after buying an additional 17,905 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Starbucks by 36.9% in the third quarter. Quantinno Capital Management LP now owns 104,171 shares of the coffee company’s stock worth $10,156,000 after buying an additional 28,103 shares during the period. Weiss Asset Management LP acquired a new position in Starbucks in the 3rd quarter worth approximately $12,086,000. Finally, Wellington Management Group LLP raised its position in Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the period. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on SBUX shares. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. UBS Group increased their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their target price 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. Finally, Wedbush increased their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Trading Down 7.0 %

Shares of Starbucks stock opened at $82.10 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company’s fifty day simple moving average is $105.32 and its 200-day simple moving average is $99.36. The company has a market cap of $93.26 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted 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 period last year, the business posted $0.90 EPS. As a group, research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.97%. Starbucks’s payout ratio is currently 78.71%.

Starbucks 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.