Titleist Asset Management LLC Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Titleist Asset Management LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,297 shares of the coffee company’s stock after selling 914 shares during the quarter. Titleist Asset Management LLC’s holdings in Starbucks were worth $848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Financial Life Planners purchased a new position in Starbucks during the fourth quarter valued at $25,000. Graney & King LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $26,000. Collier Financial purchased a new stake in Starbucks during the 4th quarter valued at about $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks during the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC bought a new stake in Starbucks during the 4th quarter valued at about $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 7.0 %

NASDAQ SBUX opened at $82.10 on Monday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market capitalization of $93.26 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock’s 50-day moving average price is $105.32 and its 200-day moving average price is $99.41.

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

Starbucks Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.97%. Starbucks’s payout ratio is 78.71%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SBUX. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus increased their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $106.12.

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.