HS Management Partners LLC Decreases Stock Position in Starbucks Corporation (NASDAQ:SBUX)

HS Management Partners LLC trimmed its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 33.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 381,929 shares of the coffee company's stock after selling 191,765 shares during the period. Starbucks accounts for about 3.0% of HS Management Partners LLC's portfolio, making the stock its 20th biggest holding. HS Management Partners LLC's holdings in Starbucks were worth $37,463,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the 4th quarter valued at $25,000. Graney & King LLC acquired a new position in Starbucks in the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the 4th quarter valued at $27,000. Hughes Financial Services LLC acquired a new position in Starbucks in the 1st quarter valued at $27,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Starbucks in the 4th quarter valued at $32,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.7%

Shares of SBUX stock traded up $0.61 on Friday, reaching $93.80. The company's stock had a trading volume of 5,172,781 shares, compared to its average volume of 10,676,357. Starbucks Corporation has a 12-month low of $72.73 and a 12-month high of $117.46. The company has a market capitalization of $106.59 billion, a P/E ratio of 33.99, a PEG ratio of 4.74 and a beta of 1.02. The stock's 50 day simple moving average is $90.22 and its 200-day simple moving average is $94.56.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. Research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.60%. Starbucks's payout ratio is presently 88.41%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBUX. Barclays decreased their price target on Starbucks from $108.00 to $106.00 and set an "overweight" rating on the stock in a research note on Thursday. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective on the stock. in a research report on Thursday. Citigroup restated a "neutral" rating and set a $100.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Monday, July 14th. Evercore ISI reaffirmed an "outperform" rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, BMO Capital Markets cut their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $98.58.

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.