Two Sigma Investments LP Cuts Holdings in Starbucks Co. (NASDAQ:SBUX)

Two Sigma Investments LP reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,800 shares of the coffee company’s stock after selling 132 shares during the quarter. Two Sigma Investments LP’s holdings in Starbucks were worth $3,449,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SBUX. Capital & Planning LLC raised its position in Starbucks by 40.7% during the fourth quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock worth $1,099,000 after acquiring an additional 3,483 shares during the period. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Mayflower Financial Advisors LLC raised its position in shares of Starbucks by 26.4% during the 4th quarter. Mayflower Financial Advisors LLC now owns 2,828 shares of the coffee company’s stock worth $258,000 after purchasing an additional 590 shares during the last quarter. R Squared Ltd purchased a new position in Starbucks in the 4th quarter valued at about $172,000. Finally, Hantz Financial Services Inc. boosted its holdings in Starbucks by 5.0% in the 4th quarter. Hantz Financial Services Inc. now owns 79,927 shares of the coffee company’s stock worth $7,293,000 after buying an additional 3,791 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 2.3%

Shares of Starbucks stock opened at $84.05 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The business’s fifty day simple moving average is $85.78 and its 200-day simple moving average is $95.71. The firm has a market cap of $95.51 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced 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). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the company earned $0.68 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company 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. This represents a $2.44 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, May 16th. Starbucks’s payout ratio is 88.41%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBUX. JPMorgan Chase & Co. decreased their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Citigroup decreased their price objective on Starbucks from $88.00 to $84.00 and set a “neutral” 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 research note on Monday, April 7th. The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and reduced their target price for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. Finally, TD Cowen reissued a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research note on Thursday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus 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.