Starbucks Co. (NASDAQ:SBUX) Shares Sold by CenterBook Partners LP

CenterBook Partners LP lessened its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 77.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,876 shares of the coffee company's stock after selling 56,441 shares during the period. CenterBook Partners LP's holdings in Starbucks were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $62,000. Arizona State Retirement System increased its stake in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after purchasing an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new position in shares of Starbucks in the fourth quarter worth $265,000. Wernau Asset Management Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth $258,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Starbucks during the fourth quarter valued at $9,497,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SBUX. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Citigroup dropped their price objective on shares of Starbucks from $100.00 to $88.00 and set a "neutral" rating on the stock in a report on Friday. Finally, Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $104.68.

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Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.06 during trading on Monday, reaching $85.49. The stock had a trading volume of 8,877,975 shares, compared to its average volume of 11,474,304. The business has a fifty day moving average price of $102.16 and a 200-day moving average price of $98.79. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a market cap of $97.11 billion, a PE ratio of 27.58, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business earned $0.90 earnings per share. Sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.85%. Starbucks's dividend payout ratio is presently 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.