Evercore Wealth Management LLC Sells 1,935 Shares of Starbucks Co. (NASDAQ:SBUX)

Evercore Wealth Management LLC cut its position in Starbucks Co. (NASDAQ:SBUX) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,203 shares of the coffee company’s stock after selling 1,935 shares during the quarter. Evercore Wealth Management LLC’s holdings in Starbucks were worth $3,121,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pioneer Trust Bank N A OR raised its position in shares of Starbucks by 0.8% during 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 in the last quarter. Wintrust Investments LLC raised its position in Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel raised its position in Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares during the period. Gamco Investors INC. ET AL lifted its stake in shares of Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock valued at $261,000 after purchasing an additional 97 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC increased its position in shares of Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after purchasing an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $82.80 on Thursday. The company’s fifty day moving average price is $97.38 and its 200-day moving average price is $97.96. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The firm has a market capitalization of $94.06 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 period last year, the company earned $0.90 EPS. As a group, research analysts anticipate that Starbucks Co. will post 2.99 EPS 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 issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.95%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird restated a “neutral” rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a research note on Wednesday, April 9th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Finally, Barclays reduced their price target on Starbucks from $124.00 to $106.00 and set an “overweight” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $103.00.

About Starbucks

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.