Rhumbline Advisers Sells 54,507 Shares of Starbucks Co. (NASDAQ:SBUX)

Rhumbline Advisers lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,174,794 shares of the coffee company’s stock after selling 54,507 shares during the period. Rhumbline Advisers owned about 0.19% of Starbucks worth $213,325,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Capital & Planning LLC grew its holdings in shares of Starbucks by 40.7% during the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock valued at $1,099,000 after purchasing an additional 3,483 shares during the last quarter. Brighton Jones LLC increased its position in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares during the period. Strategic Blueprint LLC increased its position in shares of Starbucks by 34.7% in the fourth quarter. Strategic Blueprint LLC now owns 2,890 shares of the coffee company’s stock valued at $264,000 after acquiring an additional 745 shares during the period. Mediolanum International Funds Ltd increased its position in shares of Starbucks by 330.2% in the fourth quarter. Mediolanum International Funds Ltd now owns 120,352 shares of the coffee company’s stock valued at $10,875,000 after acquiring an additional 92,375 shares during the period. Finally, Clear Creek Financial Management LLC increased its position in shares of Starbucks by 32.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 7,837 shares of the coffee company’s stock valued at $715,000 after acquiring an additional 1,917 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $83.68 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The company’s 50-day simple moving average is $85.54 and its 200 day simple moving average is $95.58. The firm has a market capitalization of $95.09 billion, a P/E ratio of 26.99, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the firm earned $0.68 EPS. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s payout ratio is 88.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SBUX shares. JPMorgan Chase & Co. decreased their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Barclays decreased their price objective on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. TD Securities restated a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a research report on Thursday. Stifel Nicolaus decreased their price objective on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada cut shares of Starbucks from an “outperform” rating to a “sector perform” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $97.92.

Starbucks Company 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.