Blair William & Co. IL Has $119.66 Million Holdings in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Blair William & Co. IL has reduced its holdings in Starbucks Corporation by 5.3%, now owning approximately 1.2 million shares valued at $119.66 million.
• Starbucks reported quarterly earnings of $0.50 EPS, missing analyst expectations, with revenues of $9.46 billion, slightly exceeding predictions.
• The company recently announced a $0.61 quarterly dividend with a yield of 2.8%, despite having a dividend payout ratio of 105.17%.

Blair William & Co. IL lessened its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,219,915 shares of the coffee company's stock after selling 67,912 shares during the quarter. Blair William & Co. IL owned approximately 0.11% of Starbucks worth $119,661,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avalon Trust Co raised its stake in Starbucks by 5.5% during the 1st quarter. Avalon Trust Co now owns 2,384 shares of the coffee company's stock valued at $234,000 after purchasing an additional 124 shares during the period. Manchester Capital Management LLC grew its holdings in shares of Starbucks by 2.9% during the first quarter. Manchester Capital Management LLC now owns 9,328 shares of the coffee company's stock valued at $915,000 after buying an additional 263 shares in the last quarter. Scotia Capital Inc. grew its holdings in shares of Starbucks by 3.1% during the first quarter. Scotia Capital Inc. now owns 274,683 shares of the coffee company's stock valued at $26,944,000 after buying an additional 8,157 shares in the last quarter. Cheviot Value Management LLC acquired a new position in Starbucks during the first quarter valued at $98,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in Starbucks in the 1st quarter worth about $320,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Trading Down 2.6%

NASDAQ:SBUX opened at $86.86 on Friday. The firm has a market capitalization of $98.73 billion, a PE ratio of 37.44, a PEG ratio of 4.95 and a beta of 1.02. Starbucks Corporation has a 1 year low of $72.72 and a 1 year high of $117.46. The firm's fifty day simple moving average is $91.73 and its 200 day simple moving average is $94.59.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research note on Wednesday. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. CICC Research initiated coverage on shares of Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective on the stock. Sanford C. Bernstein upped their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley reissued an "overweight" rating and set a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $101.27.

About Starbucks

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.

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