Segall Bryant & Hamill LLC Cuts Holdings in Starbucks Corporation (NASDAQ:SBUX)

Segall Bryant & Hamill LLC decreased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,125 shares of the coffee company's stock after selling 12,147 shares during the quarter. Segall Bryant & Hamill LLC's holdings in Starbucks were worth $9,037,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Wealth Management Group LLC raised its stake in shares of Starbucks by 13.3% during the first quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company's stock worth $104,000 after acquiring an additional 124 shares in the last quarter. Bryn Mawr Capital Management LLC increased its position in Starbucks by 42.9% during the first quarter. Bryn Mawr Capital Management LLC now owns 16,201 shares of the coffee company's stock worth $1,589,000 after buying an additional 4,867 shares during the period. Bridgewater Advisors Inc. purchased a new stake in shares of Starbucks in the first quarter valued at $914,000. Tectonic Advisors LLC increased its stake in Starbucks by 37.0% during the first quarter. Tectonic Advisors LLC now owns 13,930 shares of the coffee company's stock valued at $1,366,000 after purchasing an additional 3,759 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its position in shares of Starbucks by 48.7% in the first quarter. Wealthfront Advisers LLC now owns 116,070 shares of the coffee company's stock worth $11,385,000 after buying an additional 37,992 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. BMO Capital Markets cut their price objective on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Royal Bank Of Canada increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Sanford C. Bernstein boosted their price target on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. TD Cowen reaffirmed a "hold" rating and set a $90.00 price target on shares of Starbucks in a report on Thursday, May 29th. Finally, Barclays lowered their price objective on Starbucks from $108.00 to $106.00 and set an "overweight" rating for the company in a research note on Thursday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $98.85.

Starbucks Trading Up 0.7%

SBUX stock opened at $93.19 on Friday. Starbucks Corporation has a 1 year low of $72.73 and a 1 year high of $117.46. The firm has a market cap of $105.90 billion, a PE ratio of 33.76, a PEG ratio of 4.74 and a beta of 1.02. The company has a fifty day simple moving average of $89.95 and a 200 day simple moving average of $94.54.

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

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders 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 dividend on an annualized basis and a yield of 2.62%. Starbucks's payout ratio is presently 88.41%.

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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