Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC reduced its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 507,950 shares of the coffee company's stock after selling 36,054 shares during the quarter. Madison Asset Management LLC's holdings in Starbucks were worth $49,825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks in the fourth quarter worth about $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the fourth quarter worth about $26,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks in the first quarter worth about $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Starbucks in the fourth quarter worth about $32,000. Finally, Ball & Co Wealth Management Inc. bought a new stake in shares of Starbucks in the fourth quarter worth about $41,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SBUX. Barclays cut their target price on Starbucks from $108.00 to $106.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Royal Bank Of Canada lifted their price objective on Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Evercore ISI reaffirmed an "outperform" rating and set a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. JPMorgan Chase & Co. cut their price objective on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Four research 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's stock. According to MarketBeat, Starbucks currently has a consensus rating of "Hold" and a consensus target price of $98.58.

Starbucks Trading Up 0.8%

SBUX traded up $0.72 during trading hours on Friday, hitting $94.42. 7,219,553 shares of the company's stock were exchanged, compared to its average volume of 7,933,794. Starbucks Corporation has a 12-month low of $72.72 and a 12-month high of $117.46. The firm has a 50 day moving average of $91.05 and a 200 day moving average of $94.64. The firm has a market cap of $107.30 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 6.50 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the previous year, the company earned $0.68 earnings per share. Starbucks's quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio is currently 88.41%.

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.