Samalin Investment Counsel LLC Sells 4,149 Shares of Starbucks Corporation $SBUX

Key Points

• Samalin Investment Counsel LLC reduced its stake in Starbucks Corporation by 52.3%, resulting in ownership of 3,778 shares and a valuation of $371,000 at the end of the last quarter.
• Starbucks reported $0.50 earnings per share for the last quarter, missing estimates by $0.14, while revenue increased to $9.46 billion, exceeding forecasts.
• The company announced a quarterly dividend of $0.61 per share, with an annualized yield of 2.8% and a payout ratio of 105.17%.

Samalin Investment Counsel LLC cut its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 52.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,778 shares of the coffee company's stock after selling 4,149 shares during the quarter. Samalin Investment Counsel LLC's holdings in Starbucks were worth $371,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BMO Capital Markets reissued an "outperform" rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Guggenheim increased their target price on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Piper Sandler set a $105.00 target price on Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Sanford C. Bernstein increased their target price on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $104.40.

Starbucks Stock Up 1.0%

NASDAQ:SBUX opened at $86.63 on Wednesday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The business has a 50 day moving average price of $92.24 and a two-hundred day moving average price of $93.06. The company has a market cap of $98.47 billion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 5.09 and a beta of 1.02.

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

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given 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 yield of 2.8%. Starbucks's dividend payout ratio is 105.17%.

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.

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