Sit Investment Associates Inc. Has $2.03 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Sit Investment Associates Inc. lowered its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 15.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,268 shares of the coffee company's stock after selling 4,075 shares during the quarter. Sit Investment Associates Inc.'s holdings in Starbucks were worth $2,032,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Financial Life Planners bought a new position in shares of Starbucks in the 4th quarter worth about $25,000. Graney & King LLC acquired a new stake in Starbucks during the fourth quarter worth about $26,000. Collier Financial bought a new position in Starbucks in the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $30,000. Institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports 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 note on Friday. Robert W. Baird reissued a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Finally, Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.68.

Starbucks Stock Up 1.0 %

Shares of Starbucks stock traded up $0.83 during midday trading on Friday, hitting $85.43. The company's stock had a trading volume of 10,058,643 shares, compared to its average volume of 11,473,170. The firm has a market capitalization of $97.04 billion, a P/E ratio of 27.56, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a 50-day simple moving average of $102.16 and a 200-day simple moving average of $98.78.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 last year, the company posted $0.90 earnings per share. As a group, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's payout ratio is currently 78.71%.

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.