Morningstar Investment Services LLC lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 58.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,808 shares of the coffee company's stock after selling 73,659 shares during the period. Starbucks accounts for approximately 0.9% of Morningstar Investment Services LLC's portfolio, making the stock its 24th biggest position. Morningstar Investment Services LLC's holdings in Starbucks were worth $5,082,000 at the end of the most recent reporting period.
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 during the fourth quarter worth about $285,000. Czech National Bank boosted its holdings in Starbucks by 6.2% in the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after purchasing an additional 15,132 shares during the period. Personal CFO Solutions LLC increased its stake in shares of Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after buying an additional 5,151 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Starbucks by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after buying an additional 3,130 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after buying an additional 784,432 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.
Analysts Set New Price Targets
SBUX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research report on Thursday. Robert W. Baird reiterated a "neutral" rating and set a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Citigroup reiterated a "neutral" rating and set a $100.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Monday, July 14th. Finally, Cowen reissued a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $98.58.
Get Our Latest Stock Analysis on Starbucks
Starbucks Price Performance
NASDAQ SBUX traded down $0.34 during mid-day trading on Monday, hitting $93.46. The company's stock had a trading volume of 3,910,633 shares, compared to its average volume of 10,649,825. The firm has a market capitalization of $106.20 billion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 4.76 and a beta of 1.02. The stock's fifty day simple moving average is $90.22 and its two-hundred day simple moving average is $94.60. Starbucks Corporation has a 52-week low of $72.73 and a 52-week high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data 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 business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.
Starbucks Announces Dividend
The company 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 $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 2.61%. Starbucks's payout ratio is 88.41%.
About Starbucks
(
Free Report)
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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