Epoch Investment Partners Inc. Decreases Stake in Starbucks Corporation $SBUX

Key Points

• Epoch Investment Partners Inc. has reduced its stake in Starbucks Corporation by 1.2% during the 1st quarter, now holding approximately 1.5 million shares worth $148.98 million.
• Starbucks reported quarterly earnings of $0.50 per share, missing analysts' expectations, but generated $9.46 billion in revenue, surpassing the $9.29 billion estimate.
• The company has announced a quarterly dividend of $0.61 per share, reflecting a dividend yield of 2.8%, amid a payout ratio of 105.17%.

Epoch Investment Partners Inc. cut its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,518,796 shares of the coffee company's stock after selling 19,141 shares during the period. Epoch Investment Partners Inc. owned about 0.13% of Starbucks worth $148,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ceredex Value Advisors LLC boosted its position in shares of Starbucks by 23.3% in the 1st quarter. Ceredex Value Advisors LLC now owns 430,699 shares of the coffee company's stock worth $42,247,000 after buying an additional 81,290 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Starbucks in the 1st quarter worth about $3,997,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Starbucks by 40.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 726,702 shares of the coffee company's stock worth $71,282,000 after buying an additional 207,502 shares in the last quarter. Soros Capital Management LLC boosted its position in shares of Starbucks by 292.6% in the 1st quarter. Soros Capital Management LLC now owns 26,070 shares of the coffee company's stock worth $2,557,000 after buying an additional 19,430 shares in the last quarter. Finally, Freedom Investment Management Inc. purchased a new stake in shares of Starbucks in the 1st quarter worth about $299,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 2.9%

Shares of SBUX stock opened at $85.81 on Tuesday. The firm has a 50-day moving average price of $92.34 and a 200 day moving average price of $93.10. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a market capitalization of $97.54 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the company earned $0.93 EPS. The company's revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Cowen reiterated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Barclays boosted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada boosted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, TD Cowen boosted their price objective on shares of Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Starbucks currently has a consensus 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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