Kayne Anderson Rudnick Investment Management LLC Has $178,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 96.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,952 shares of the coffee company's stock after selling 46,774 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Starbucks were worth $178,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on SBUX shares. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a report on Wednesday, April 9th. Robert W. Baird restated a "neutral" rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Citigroup lowered their price target on Starbucks from $100.00 to $88.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks has a consensus rating of "Moderate Buy" and a consensus price target of $103.00.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $1.05 during midday trading on Thursday, reaching $83.86. The company's stock had a trading volume of 6,791,606 shares, compared to its average volume of 11,507,077. The firm has a 50 day moving average price of $96.81 and a two-hundred day moving average price of $97.87. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market capitalization of $95.26 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the business posted $0.90 EPS. As a group, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared 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 2.91%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is currently 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.