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

Sit Investment Associates Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Resona Asset Management Co. Ltd. bought a new stake in Starbucks during the 4th quarter valued at $29,598,000. Pioneer Trust Bank N A OR raised its stake in shares of Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after purchasing an additional 92 shares in the last quarter. Leeward Financial Partners LLC lifted its holdings in Starbucks by 4.1% in the fourth quarter. Leeward Financial Partners LLC now owns 10,077 shares of the coffee company’s stock worth $920,000 after purchasing an additional 393 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in Starbucks in the fourth quarter worth about $374,000. Finally, Bornite Capital Management LP bought a new position in Starbucks in the 4th quarter valued at about $13,688,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $82.10 on Monday. The company’s 50 day moving average price is $105.32 and its 200 day moving average price is $99.41. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market capitalization of $93.26 billion, a PE ratio of 26.48, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company earned $0.90 EPS. On average, equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business 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 is Friday, May 16th. Starbucks’s dividend payout ratio is 78.71%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SBUX. Barclays upped their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Company 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.