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

First Affirmative Financial Network lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,542 shares of the coffee company’s stock after selling 383 shares during the quarter. First Affirmative Financial Network’s holdings in Starbucks were worth $446,000 at the end of the most recent reporting period.

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

Starbucks Stock Performance

SBUX stock opened at $89.64 on Friday. The company has a market capitalization of $101.87 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The company’s 50 day moving average price is $84.45 and its two-hundred day moving average price is $95.19.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 business had revenue of $8.76 billion for 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%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. On average, research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on SBUX shares. The Goldman Sachs Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and cut their price objective for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. Citigroup cut their price objective on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Finally, Cowen lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.