First Affirmative Financial Network Sells 383 Shares of Starbucks Co. (NASDAQ:SBUX)

First Affirmative Financial Network decreased its position in Starbucks Co. (NASDAQ:SBUX) by 7.8% during the 1st quarter, Holdings Channel reports. The firm owned 4,542 shares of the coffee company’s stock after selling 383 shares during the period. First Affirmative Financial Network’s holdings in Starbucks were worth $446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter worth approximately $25,000. Graney & King LLC bought a new stake in Starbucks in the fourth quarter valued at $26,000. Collier Financial bought a new stake in Starbucks in the fourth quarter valued at $27,000. Runnymede Capital Advisors Inc. bought a new stake in Starbucks in the fourth quarter valued at $27,000. Finally, Marshall Investment Management LLC bought a new stake in Starbucks in the fourth quarter valued at $30,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $89.64 on Friday. The stock has a 50-day moving average price of $84.45 and a 200-day moving average price of $95.19. The firm has a market cap of $101.87 billion, a PE ratio of 28.92, 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.

Starbucks (NASDAQ:SBUX) last posted 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 company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. Starbucks’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s dividend payout ratio is presently 88.41%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SBUX shares. Guggenheim cut their price target on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus cut their price target on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Finally, Royal Bank of Canada cut shares of Starbucks from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average price target of $97.92.

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.