Bessemer Group Inc. Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Bessemer Group Inc. reduced its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 91.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,921 shares of the coffee company's stock after selling 834,732 shares during the period. Bessemer Group Inc.'s holdings in Starbucks were worth $7,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Pioneer Trust Bank N A OR raised its holdings in Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after buying an additional 92 shares during the last quarter. Wintrust Investments LLC raised its holdings in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after acquiring an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel raised its holdings in Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock worth $387,000 after acquiring an additional 96 shares during the last quarter. Wellington Shields & Co. LLC increased its holdings in shares of Starbucks by 8.6% in the 4th quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company's stock worth $115,000 after purchasing an additional 100 shares in the last quarter. Finally, Mystic Asset Management Inc. raised its stake in shares of Starbucks by 3.9% in the fourth quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company's stock worth $243,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Starbucks from $114.00 to $103.00 and set a "buy" rating for the company in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Finally, Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of "Moderate Buy" and a consensus price target of $104.24.

Starbucks Stock Performance

SBUX traded down $2.95 during trading on Wednesday, hitting $80.76. 12,994,900 shares of the stock were exchanged, compared to its average volume of 11,470,072. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm has a market cap of $91.74 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 3.59 and a beta of 1.00. The firm has a 50 day simple moving average of $101.07 and a 200 day simple moving average of $98.60.

Starbucks (NASDAQ:SBUX - Get Free Report) last released 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the company earned $0.90 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm 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 dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.02%. Starbucks's dividend payout ratio is presently 78.71%.

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.