Northwest & Ethical Investments L.P. Sells 17,384 Shares of Starbucks Corporation $SBUX

Key Points

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Northwest & Ethical Investments L.P. decreased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 47.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,573 shares of the coffee company's stock after selling 17,384 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Starbucks were worth $1,920,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Hughes Financial Services LLC bought a new position in Starbucks in the first quarter valued at $27,000. McClarren Financial Advisors Inc. acquired a new stake in Starbucks in the 1st quarter valued at $29,000. Kapitalo Investimentos Ltda bought a new stake in Starbucks during the 4th quarter worth about $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of Starbucks during the 4th quarter worth about $41,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $92.54 on Tuesday. The business's 50 day simple moving average is $92.83 and its 200 day simple moving average is $93.88. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a market capitalization of $105.19 billion, a P/E ratio of 39.89, a P/E/G ratio of 5.32 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. On average, sell-side analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.6%. Starbucks's payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SBUX. Stifel Nicolaus lifted their target price on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Evercore ISI reaffirmed an "outperform" rating and set a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. BMO Capital Markets reissued an "outperform" rating and issued a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group lowered shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target on the stock. in a research report on Thursday, July 17th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $103.65.

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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