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

Thoroughbred Financial Services LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,847 shares of the coffee company’s stock after selling 249 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Starbucks were worth $1,446,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SBUX. Wintrust Investments LLC boosted its stake in shares of Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after buying an additional 94 shares during the period. Kuhn & Co Investment Counsel increased its stake in Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after acquiring an additional 96 shares during the period. Wellington Shields & Co. LLC raised its holdings in Starbucks by 8.6% in the 4th quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock valued at $115,000 after acquiring an additional 100 shares in the last quarter. Mystic Asset Management Inc. lifted its position in shares of Starbucks by 3.9% during the 4th quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock valued at $243,000 after acquiring an additional 101 shares during the period. Finally, Jmac Enterprises LLC grew its holdings in shares of Starbucks by 1.0% during the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $82.10 on Friday. The firm has a market cap of $93.26 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The stock’s 50-day moving average is $105.32 and its 200 day moving average is $99.36.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 in the prior 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 fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.97%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analysts Set New Price Targets

SBUX has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. Barclays upped their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.