Oak Asset Management LLC Has $885,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Oak Asset Management LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 15.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,018 shares of the coffee company’s stock after selling 1,650 shares during the quarter. Oak Asset Management LLC’s holdings in Starbucks were worth $885,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Starbucks during the fourth quarter worth about $1,244,812,000. Capital World Investors raised its position in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC grew its position in shares of Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Capital Research Global Investors increased its stake in Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after purchasing an additional 3,563,942 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Starbucks during the 4th quarter worth approximately $284,283,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SBUX shares. The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and reduced their price target for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Royal Bank of Canada lowered shares of Starbucks from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 29th. Baird R W downgraded Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, Barclays reduced their price objective on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $97.92.

Starbucks Trading Up 1.7%

SBUX stock opened at $88.11 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The business’s 50 day simple moving average is $84.85 and its 200 day simple moving average is $95.35. The firm has a market capitalization of $100.13 billion, a PE ratio of 28.42, a PEG ratio of 3.59 and a beta of 1.00.

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

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Friday, May 16th. Starbucks’s dividend payout ratio is presently 88.41%.

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.