NFJ Investment Group LLC Sells 3,579 Shares of Starbucks Co. (NASDAQ:SBUX)

NFJ Investment Group LLC cut its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,874 shares of the coffee company's stock after selling 3,579 shares during the quarter. NFJ Investment Group LLC's holdings in Starbucks were worth $15,775,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price for the company in a report on Wednesday, April 9th. Finally, Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $104.24.

Starbucks Trading Up 0.9 %

Shares of NASDAQ:SBUX traded up $0.74 during mid-day trading on Friday, reaching $81.50. The stock had a trading volume of 9,784,353 shares, compared to its average volume of 11,492,765. The firm has a 50 day simple moving average of $99.25 and a two-hundred day simple moving average of $98.26. The firm has a market cap of $92.58 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

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 quarter in the previous year, the firm posted $0.90 EPS. On average, equities analysts anticipate that Starbucks Co. will post 2.99 EPS 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 issued a $0.61 dividend. 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 2.99%. Starbucks's dividend payout ratio (DPR) 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.