Pathstone Holdings LLC Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Pathstone Holdings LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 179,125 shares of the coffee company’s stock after selling 7,661 shares during the period. Pathstone Holdings LLC’s holdings in Starbucks were worth $16,345,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Pioneer Trust Bank N A OR lifted its holdings 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 worth $1,032,000 after buying an additional 92 shares in the last quarter. Wintrust Investments LLC raised its position 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 in the last quarter. Kuhn & Co Investment Counsel raised its position in shares of Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after buying an additional 96 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Starbucks by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock valued at $261,000 after buying an additional 97 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC raised its position in shares of Starbucks by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after buying an additional 97 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on SBUX. JPMorgan Chase & Co. dropped their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company dropped their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. TD Securities dropped their target price on shares of Starbucks from $102.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research report on Wednesday, April 9th. Finally, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $98.72.

Starbucks Trading Down 0.4%

Shares of SBUX stock opened at $86.54 on Thursday. The stock has a market cap of $98.34 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 3.59 and a beta of 0.99. The stock has a 50-day moving average of $88.71 and a 200-day moving average of $96.66. Starbucks Co. has a 1-year low of $71.55 and a 1-year 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 negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts forecast 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. Investors of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.82%. Starbucks’s dividend payout ratio is currently 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.