Skyline Advisors Inc. Has $838,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Skyline Advisors Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,182 shares of the coffee company’s stock after selling 373 shares during the quarter. Skyline Advisors Inc.’s holdings in Starbucks were worth $838,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SBUX. Financial Life Planners bought a new position in Starbucks during the fourth quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks during the 4th quarter valued at about $25,000. Graney & King LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. Collier Financial acquired a new stake in shares of Starbucks in the fourth quarter valued at $27,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks in the fourth quarter valued at about $27,000. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Guggenheim reduced their price objective on Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Tuesday, March 18th. The Goldman Sachs Group lowered Starbucks from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. UBS Group cut their price objective on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $98.72.

Starbucks Trading Up 0.5%

Shares of NASDAQ SBUX opened at $84.40 on Monday. The firm has a fifty day simple moving average of $86.78 and a two-hundred day simple moving average of $96.04. The firm has a market capitalization of $95.91 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced 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 2.89%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 88.41%.

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.