Stifel Financial Corp Sells 28,346 Shares of Starbucks Co. (NASDAQ:SBUX)

Stifel Financial Corp lowered its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 853,431 shares of the coffee company's stock after selling 28,346 shares during the quarter. Stifel Financial Corp owned approximately 0.08% of Starbucks worth $77,880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Financial Life Planners bought a new position in shares of Starbucks in the fourth quarter worth $25,000. Graney & King LLC purchased a new stake in Starbucks during the fourth quarter valued at about $26,000. Collier Financial bought a new stake in Starbucks during the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks in the 4th quarter worth about $27,000. Finally, Marshall Investment Management LLC purchased a new stake in Starbucks in the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SBUX. Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Stifel Nicolaus lowered their price objective on Starbucks from $114.00 to $103.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company lowered their price target on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday. Citigroup dropped their target price on shares of Starbucks from $100.00 to $88.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $103.00.

Starbucks Stock Up 1.3 %

Shares of SBUX stock opened at $81.75 on Wednesday. The firm has a market capitalization of $92.86 billion, a PE ratio of 26.37, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a 50 day moving average price of $97.97 and a 200-day moving average price of $98.06. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results 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 last year, the firm posted $0.90 earnings per share. Analysts anticipate 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. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.98%. Starbucks's payout ratio is 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.

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