Starbucks Co. (NASDAQ:SBUX) Position Reduced by Bank of Nova Scotia

Bank of Nova Scotia lowered its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 65.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,460 shares of the coffee company's stock after selling 383,221 shares during the period. Bank of Nova Scotia's holdings in Starbucks were worth $18,201,000 as of its most recent SEC filing.

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

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Starbucks Stock Performance

Shares of SBUX traded down $1.29 during mid-day trading on Tuesday, reaching $84.20. 2,183,943 shares of the company's stock traded hands, compared to its average volume of 11,437,840. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a market capitalization of $95.64 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The business's 50-day moving average price is $101.63 and its 200-day moving average price is $98.70.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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 quarter in the previous year, the company earned $0.90 EPS. Equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio is currently 78.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SBUX shares. Citigroup cut their target price on Starbucks from $100.00 to $88.00 and set a "neutral" rating on the stock in a research report on Friday. Wells Fargo & Company lifted their price objective on Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a report on Wednesday, April 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Finally, Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.24.

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.