Alliancebernstein L.P. Has $265.69 Million Position in Starbucks Co. (NASDAQ:SBUX)

Alliancebernstein L.P. lowered its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 47.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,911,687 shares of the coffee company's stock after selling 2,604,401 shares during the quarter. Alliancebernstein L.P. owned 0.26% of Starbucks worth $265,691,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at $62,000. Arizona State Retirement System raised its position in Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after buying an additional 2,722 shares during the period. West Michigan Advisors LLC purchased a new stake in Starbucks in the 4th quarter worth about $265,000. Wernau Asset Management Inc. acquired a new stake in Starbucks during the 4th quarter worth about $258,000. Finally, Investment Management Corp of Ontario grew its stake in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock valued at $3,664,000 after acquiring an additional 12,300 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Down 7.0 %

Starbucks stock traded down $6.16 on Friday, hitting $82.10. The company's stock had a trading volume of 19,694,666 shares, compared to its average volume of 11,228,063. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The firm has a market cap of $93.26 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company has a fifty day moving average price of $105.32 and a 200-day moving average price of $99.38.

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Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 previous year, the company earned $0.90 EPS. Analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given 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 (DPR) is presently 78.71%.

Analyst Ratings Changes

A number of brokerages recently commented on SBUX. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Finally, Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.