DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 4,485,660 Shares of Starbucks Co. (NASDAQ:SBUX)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 92.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 346,041 shares of the coffee company’s stock after selling 4,485,660 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Starbucks were worth $31,576,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Life Planners acquired 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 during the 4th quarter worth approximately $26,000. Collier Financial bought a new position in shares of Starbucks during the fourth quarter worth approximately $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks in the 4th quarter worth about $27,000. Finally, Marshall Investment Management LLC bought a new stake in Starbucks during the fourth quarter worth about $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SBUX shares. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Guggenheim reduced their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note 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 research report on Tuesday, March 18th. Finally, Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.72.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $82.19 on Friday. The firm has a market capitalization of $93.40 billion, a P/E ratio of 26.51, a P/E/G ratio of 3.59 and a beta of 0.99. The company’s fifty day moving average price is $90.64 and its 200 day moving average price is $97.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

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

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.97%. 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.