Starbucks Co. (NASDAQ:SBUX) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,376 shares of the coffee company’s stock after selling 4,483 shares during the quarter. Logan Capital Management Inc.’s holdings in Starbucks were worth $16,186,000 at the end of the most recent quarter.

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

Starbucks Trading Down 2.3%

Shares of SBUX opened at $80.30 on Monday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a 50 day moving average of $90.00 and a 200-day moving average of $96.88. The firm has a market cap of $91.25 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (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 company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 3.04%. Starbucks’s dividend payout ratio (DPR) is 88.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada decreased their price target on Starbucks from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company dropped their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Barclays dropped their price objective on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, Guggenheim lowered their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.72.

Starbucks 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.