Candriam S.C.A. Sells 9,364 Shares of Starbucks Corporation $SBUX

Key Points

• Candriam S.C.A. reduced its stake in Starbucks by 6.2%, selling 9,364 shares, which leaves them with 140,677 shares valued at approximately $13.8 million.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing predictions by $0.14, while revenues increased by 3.8% year-over-year, totaling $9.46 billion.
• The company has announced a quarterly dividend of $0.61, leading to an annualized dividend of $2.44 and a yield of 2.7%.

Candriam S.C.A. trimmed its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,677 shares of the coffee company's stock after selling 9,364 shares during the period. Candriam S.C.A.'s holdings in Starbucks were worth $13,799,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Starbucks by 0.9% during the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock valued at $10,991,923,000 after acquiring an additional 953,361 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares in the last quarter. Nuveen LLC bought a new stake in Starbucks in the first quarter valued at $1,379,619,000. Northern Trust Corp boosted its holdings in Starbucks by 4.6% in the fourth quarter. Northern Trust Corp now owns 13,573,337 shares of the coffee company's stock valued at $1,238,567,000 after acquiring an additional 600,151 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after buying an additional 3,589,537 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Down 1.6%

Shares of Starbucks stock opened at $89.51 on Thursday. The firm has a market cap of $101.75 billion, a P/E ratio of 38.58, a P/E/G ratio of 5.34 and a beta of 1.02. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock's fifty day moving average price is $92.70 and its 200-day moving average price is $93.83.

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

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, August 15th. Starbucks's payout ratio is 105.17%.

Analysts Set New Price Targets

A number of analysts have recently commented on SBUX shares. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Loop Capital set a $165.00 price target on shares of Starbucks in a research note on Tuesday, August 12th. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Citigroup reduced their price target on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Finally, Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and upped their price target for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $104.40.

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.

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