Wellspring Financial Advisors LLC Sells 366 Shares of Starbucks Co. (NASDAQ:SBUX)

Wellspring Financial Advisors LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 11.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,912 shares of the coffee company’s stock after selling 366 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Starbucks were worth $266,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Pioneer Trust Bank N A OR raised its holdings in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after buying an additional 92 shares during the last quarter. Wintrust Investments LLC lifted its holdings in shares of Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel grew its stake in shares of Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after purchasing an additional 96 shares during the last quarter. Wellington Shields & Co. LLC increased its holdings in Starbucks by 8.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock valued at $115,000 after purchasing an additional 100 shares during the period. Finally, Mystic Asset Management Inc. raised its position in Starbucks by 3.9% during the 4th quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock worth $243,000 after purchasing an additional 101 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX stock 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 firm’s 50-day simple moving average is $105.32 and its two-hundred day simple moving average is $99.41. The firm has a market cap of $93.26 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the business earned $0.90 EPS. Analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently disclosed 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio is currently 78.71%.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. Wedbush upped their price objective 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. BMO Capital Markets boosted 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. Finally, Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus price target 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.