Fayez Sarofim & Co Sells 184 Shares of Starbucks Co. (NASDAQ:SBUX)

Fayez Sarofim & Co reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,065 shares of the coffee company’s stock after selling 184 shares during the period. Fayez Sarofim & Co’s holdings in Starbucks were worth $7,762,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Invst LLC boosted its position in shares of Starbucks by 1.9% in the 3rd quarter. Invst LLC now owns 20,767 shares of the coffee company’s stock worth $2,025,000 after purchasing an additional 395 shares in the last quarter. Tudor Financial Inc. bought a new position in Starbucks during the third quarter valued at approximately $1,352,000. Fulcrum Equity Management increased its position in Starbucks by 38.8% in the third quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company’s stock worth $402,000 after purchasing an additional 1,151 shares during the last quarter. Sculati Wealth Management LLC lifted its holdings in shares of Starbucks by 15.1% in the 3rd quarter. Sculati Wealth Management LLC now owns 10,291 shares of the coffee company’s stock valued at $940,000 after acquiring an additional 1,350 shares during the last quarter. Finally, World Investment Advisors LLC grew its position in Starbucks by 1,941.0% in the third quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company’s stock worth $6,950,000 after acquiring an additional 67,799 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.9 %

Shares of Starbucks stock opened at $81.50 on Monday. The company has a 50 day moving average price of $99.25 and a 200 day moving average price of $98.29. The firm has a market capitalization of $92.58 billion, a P/E ratio of 26.29, a PEG 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.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.90 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company 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. This represents a $2.44 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio is currently 78.71%.

Analysts Set New Price Targets

SBUX has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Baird R W downgraded shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.79.

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.