Scotia Capital Inc. Sells 29,173 Shares of Starbucks Co. (NASDAQ:SBUX)

Scotia Capital Inc. cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 266,526 shares of the coffee company’s stock after selling 29,173 shares during the quarter. Scotia Capital Inc.’s holdings in Starbucks were worth $24,321,000 as of its most recent SEC filing.

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

Starbucks Stock Performance

NASDAQ:SBUX opened at $88.68 on Thursday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a 50 day moving average price of $103.14 and a 200 day moving average price of $98.92. The stock has a market capitalization of $100.73 billion, a P/E ratio of 28.61, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 in the prior year, the company posted $0.90 EPS. Research analysts forecast 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. Stockholders of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s payout ratio is 78.71%.

Analysts Set New Price Targets

Several equities analysts recently commented on SBUX shares. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wedbush boosted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Finally, UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.12.

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.