Advisory Services Network LLC Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Advisory Services Network LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,995 shares of the coffee company's stock after selling 6,679 shares during the quarter. Advisory Services Network LLC's holdings in Starbucks were worth $5,018,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Financial Life Planners bought a new stake in shares of Starbucks during the 4th quarter valued at about $25,000. Graney & King LLC acquired a new position in shares of Starbucks during the 4th quarter valued at $26,000. Collier Financial acquired a new position in shares of Starbucks during the 4th quarter valued at $27,000. Runnymede Capital Advisors Inc. bought a new position in Starbucks during the fourth quarter worth $27,000. Finally, Marshall Investment Management LLC acquired a new stake in Starbucks in the fourth quarter worth $30,000. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on SBUX shares. Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an "outperform" rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. UBS Group raised their price target 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. Finally, BMO Capital Markets boosted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $104.24.

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Starbucks Stock Performance

SBUX traded down $1.29 on Tuesday, reaching $84.20. The company had a trading volume of 2,308,246 shares, compared to its average volume of 11,438,703. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a market cap of $95.64 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 3.59 and a beta of 1.00. The business has a 50 day simple moving average of $101.63 and a 200 day simple moving average of $98.70.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 previous year, the company posted $0.90 EPS. As a group, equities research analysts predict that Starbucks Co. will post 2.99 EPS 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 paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio is currently 78.71%.

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.