Callan Family Office LLC Purchases 20,582 Shares of Starbucks Corporation $SBUX

Key Points

• Callan Family Office LLC increased its holdings in Starbucks Corporation by 170.7% in Q2, purchasing an additional 20,582 shares, bringing its total to 32,642 shares valued at approximately $2.99 million.
• Starbucks reported a quarterly earnings miss, with earnings per share of $0.50 compared to a consensus estimate of $0.64, despite revenue exceeding expectations at $9.46 billion.
• The company announced an increase in its quarterly dividend from $0.61 to $0.62 per share, reflecting confidence in its financial position amidst a dividend payout ratio of 105.17%.

Callan Family Office LLC raised its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 170.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,642 shares of the coffee company's stock after acquiring an additional 20,582 shares during the period. Callan Family Office LLC's holdings in Starbucks were worth $2,991,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Game Plan Financial Advisors LLC bought a new stake in Starbucks during the second quarter valued at about $25,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks during the first quarter valued at about $27,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks during the second quarter valued at about $26,000. CBIZ Investment Advisory Services LLC raised its position in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after buying an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks during the first quarter valued at about $29,000. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Cowen reaffirmed a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Starbucks in a research report on Wednesday. BTIG Research set a $105.00 price objective on shares of Starbucks in a research report on Thursday, September 25th. Citigroup raised shares of Starbucks from a "neutral" rating to a "mixed" rating in a research report on Thursday. Finally, Bank of America increased their price target on shares of Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.56.

Starbucks Stock Down 1.7%

NASDAQ:SBUX opened at $78.46 on Friday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm has a market capitalization of $89.19 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 3.93 and a beta of 1.01. The firm has a 50-day moving average price of $86.48 and a 200 day moving average price of $88.02.

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

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks's previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.2%. Starbucks's dividend payout ratio (DPR) is 105.17%.

Starbucks Company 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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (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.