Starbucks Co. (NASDAQ:SBUX) Holdings Decreased by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.9% in the 4th quarter, Holdings Channel reports. The fund owned 150,858 shares of the coffee company’s stock after selling 2,908 shares during the period. Peapack Gladstone Financial Corp’s holdings in Starbucks were worth $13,766,000 as of its most recent SEC filing.

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

Starbucks Trading Down 7.0 %

Shares of SBUX stock opened at $82.10 on Monday. The company has a market capitalization of $93.26 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a 50 day moving average of $105.32 and a two-hundred day moving average of $99.41.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 quarter in the prior year, the company earned $0.90 EPS. Sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.97%. Starbucks’s dividend payout ratio is currently 78.71%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SBUX shares. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company boosted 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. BMO Capital Markets lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Barclays increased their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, UBS Group lifted their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $106.12.

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.