National Bank of Canada FI Lowers Position in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• The National Bank of Canada FI has reduced its stake in Starbucks Corporation by 75.3%, owning 311,991 shares after selling 953,242 shares in the first quarter.
• Starbucks recently reported an EPS of $0.50, missing analysts' expectations of $0.64, despite revenue exceeding consensus estimates.
• Starbucks announced a quarterly dividend of $0.61 per share, set to be paid on August 29th, representing a 2.6% yield.

National Bank of Canada FI cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 75.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 311,991 shares of the coffee company's stock after selling 953,242 shares during the period. National Bank of Canada FI's holdings in Starbucks were worth $30,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks during the fourth quarter valued at $25,000. Hughes Financial Services LLC purchased a new position in Starbucks during the first quarter valued at $27,000. McClarren Financial Advisors Inc. purchased a new position in Starbucks during the first quarter valued at $29,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks during the fourth quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in Starbucks during the fourth quarter valued at $41,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup lowered their price objective on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Morgan Stanley restated an "overweight" rating and issued a $103.00 price objective (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Bank of America boosted their price objective on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. TD Cowen boosted their price objective on Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird boosted their price objective on Starbucks from $88.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of "Hold" and a consensus target price of $101.27.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $92.12 on Friday. The business's 50 day moving average is $92.27 and its two-hundred day moving average is $94.39. Starbucks Corporation has a 1-year low of $74.75 and a 1-year high of $117.46. The stock has a market capitalization of $104.71 billion, a P/E ratio of 39.71, a PEG ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 EPS. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced 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 2.6%. Starbucks's dividend payout ratio is currently 105.17%.

About Starbucks

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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