D.B. Root & Company LLC Sells 3,990 Shares of Starbucks Corporation $SBUX

Key Points

• D.B. Root & Company LLC reduced its stake in Starbucks by 23.5%, selling 3,990 shares during the first quarter, bringing their total to 13,015 shares valued at $1.27 million.
• Several institutional investors have increased their holdings in Starbucks, with Norinchukin Bank boosting its stake by 44.6% during the same period.
• Starbucks reported a quarterly EPS of $0.50, missing estimates, but saw revenues of $9.46 billion, surpassing expectations of $9.29 billion.

D.B. Root & Company LLC lessened its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 23.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,015 shares of the coffee company's stock after selling 3,990 shares during the quarter. D.B. Root & Company LLC's holdings in Starbucks were worth $1,277,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks in the fourth quarter worth approximately $25,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks in the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. bought a new position in shares of Starbucks during the 1st quarter valued at $29,000. Kapitalo Investimentos Ltda bought a new position in shares of Starbucks during the 4th quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in Starbucks in the 4th quarter worth $41,000. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 0.2%

NASDAQ SBUX traded down $0.18 during trading on Friday, hitting $88.38. The company had a trading volume of 7,616,993 shares, compared to its average volume of 11,548,302. The company's fifty day moving average is $92.49 and its 200-day moving average is $93.29. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company has a market cap of $100.46 billion, a price-to-earnings ratio of 38.09, a price-to-earnings-growth ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its 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). The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 EPS. As a group, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBUX. Cowen reissued a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. UBS Group boosted their price objective on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Wells Fargo & Company lifted their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group cut shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target for the company. in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.