Smith Moore & CO. Sells 180 Shares of Starbucks Co. (NASDAQ:SBUX)

Smith Moore & CO. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,295 shares of the coffee company’s stock after selling 180 shares during the period. Smith Moore & CO.’s holdings in Starbucks were worth $392,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Wintrust Investments LLC grew its stake in 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 acquiring an additional 94 shares during the period. Kuhn & Co Investment Counsel lifted its holdings in shares of Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after purchasing an additional 96 shares in the last quarter. Wellington Shields & Co. LLC grew its position 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 purchasing an additional 100 shares during the period. Mystic Asset Management Inc. increased its stake in 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 purchasing an additional 101 shares in the last quarter. Finally, Jmac Enterprises LLC raised its holdings in Starbucks by 1.0% during the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after buying an additional 103 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

NASDAQ SBUX opened at $82.10 on Friday. The stock has a market capitalization of $93.26 billion, a PE ratio of 26.48, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company’s 50 day simple moving average is $105.32 and its two-hundred day simple moving average is $99.38.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 EPS. On average, research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company raised their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.