Comerica Bank Decreases Stock Position in Starbucks Corporation $SBUX

Key Points

• Comerica Bank has decreased its stake in Starbucks Corporation by 3.2%, now holding 284,100 shares valued at approximately $27.87 million.
• Starbucks reported earnings of $0.50 EPS for the last quarter, missing estimates by $0.14, despite a 3.8% year-over-year revenue increase to $9.46 billion.
• The company recently announced a quarterly dividend of $0.61, representing a dividend yield of 2.8%, with a payout ratio currently at 105.17%.

Comerica Bank reduced its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284,100 shares of the coffee company's stock after selling 9,276 shares during the quarter. Comerica Bank's holdings in Starbucks were worth $27,867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors purchased a new stake in Starbucks in the 4th quarter worth about $285,000. Czech National Bank grew its stake in Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after acquiring an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC grew its stake in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after acquiring an additional 5,151 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Starbucks in the 1st quarter worth about $998,000. Finally, Norden Group LLC grew its stake in Starbucks by 66.1% in the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after acquiring an additional 12,027 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Down 0.2%

NASDAQ:SBUX opened at $88.38 on Monday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The firm has a 50 day moving average of $92.49 and a 200 day moving average of $93.29. The stock has a market capitalization of $100.46 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS 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 firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the previous year, the company earned $0.93 EPS. The company's revenue was up 3.8% on a year-over-year basis. As a group, analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. CICC Research assumed coverage on shares of Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price on the stock. Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. UBS Group increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. TD Securities reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. Finally, Guggenheim increased their target price on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $104.40.

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.

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