Starbucks Co. (NASDAQ:SBUX) Shares Sold by Comerica Bank

Comerica Bank lowered its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 293,376 shares of the coffee company's stock after selling 28,631 shares during the quarter. Comerica Bank's holdings in Starbucks were worth $26,770,000 as of its most recent filing with the SEC.

• Starbucks Stock: Turnaround Strategy Opportunity for Investors

Other large investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in Starbucks during the fourth quarter worth approximately $62,000. Arizona State Retirement System lifted its stake in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $265,000. Wernau Asset Management Inc. purchased a new stake in shares of Starbucks in the fourth quarter valued at $258,000. Finally, OFI Invest Asset Management acquired a new position in Starbucks in the fourth quarter valued at $9,497,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a report on Wednesday, April 9th. Guggenheim dropped their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday. Royal Bank of Canada reduced their price objective on Starbucks from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Barclays dropped their target price on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $98.15.

• 5 Hot Stock Buys for Investors in April

Read Our Latest Research Report on SBUX

Starbucks Price Performance

SBUX opened at $80.05 on Thursday. The company has a market capitalization of $90.93 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 3.59 and a beta of 1.00. The business's 50-day moving average price is $94.45 and its two-hundred day moving average price is $97.54. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

• MarketBeat Week in Review – 03/17 - 03/21

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is presently 78.71%.

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.

Featured Articles

• Five stocks we like better than Starbucks
• The Role Economic Reports Play in a Successful Investment Strategy
• Why D-Wave's Project With Davidson Is a Game-Changer For Quantum
• The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
• Hims & Hers Stock Soars on Novo Nordisk Collaboration
• What is Short Interest? How to Use It
• Amazon's Earnings Will Make or Break the Stock's Comeback

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Starbucks Right Now?

Before you consider Starbucks, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Starbucks wasn't on the list.

While Starbucks currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here