Starbucks Co. (NASDAQ:SBUX) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 15.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,268 shares of the coffee company’s stock after selling 4,075 shares during the period. Sit Investment Associates Inc.’s holdings in Starbucks were worth $2,032,000 as of its most recent SEC filing.

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

Starbucks Price Performance

Shares of SBUX stock opened at $82.10 on Monday. The firm has a market cap of $93.26 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.59 and a beta of 1.00. The firm has a fifty day moving average of $105.32 and a two-hundred day moving average of $99.41. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced 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 period last year, the company earned $0.90 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.97%. Starbucks’s payout ratio is 78.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. UBS Group upped their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

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.