Starbucks Co. (NASDAQ:SBUX) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,415,987 shares of the coffee company’s stock after selling 333,697 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Starbucks were worth $311,709,000 at the end of the most recent reporting period.

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

Starbucks Trading Down 7.0 %

SBUX opened at $82.10 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The firm has a market capitalization of $93.26 billion, a PE ratio of 26.48, a PEG ratio of 3.59 and a beta of 1.00. The firm’s 50-day moving average price is $105.32 and its 200 day moving average price is $99.38.

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

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.61 per share. 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 presently 78.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBUX. UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Barclays upped their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price 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.