Thoroughbred Financial Services LLC Sells 249 Shares of Starbucks Co. (NASDAQ:SBUX)

Thoroughbred Financial Services LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,847 shares of the coffee company’s stock after selling 249 shares during the period. Thoroughbred Financial Services LLC’s holdings in Starbucks were worth $1,446,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. UBS Group lifted 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. Wells Fargo & Company increased their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Trading Down 7.0 %

SBUX opened at $82.10 on Friday. The stock’s fifty day simple moving average is $105.32 and its 200 day simple moving average is $99.36. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a market cap of $93.26 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the firm earned $0.90 EPS. Equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company 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 dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio is presently 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.