Silicon Valley Capital Partners Decreases Holdings in Starbucks Corporation $SBUX

Key Points

• Silicon Valley Capital Partners significantly reduced its stake in Starbucks Corporation by 68.6%, selling 87,414 shares and leaving them with 40,099 shares valued at approximately $3.92 million.
• Several analysts have upgraded their ratings on Starbucks, with BMO Capital Markets and Robert W. Baird both raising their price targets to $115.00, indicating a positive outlook for the stock.
• Starbucks announced a quarterly dividend of $0.61 per share, which reflects an annualized dividend yield of 2.9% and a payout ratio currently exceeding 105%.

Silicon Valley Capital Partners reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 68.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,099 shares of the coffee company's stock after selling 87,414 shares during the period. Silicon Valley Capital Partners' holdings in Starbucks were worth $3,919,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Napa Wealth Management purchased a new position in Starbucks during the first quarter worth about $1,435,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Starbucks in the fourth quarter worth $285,000. Czech National Bank increased its position in shares of Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after acquiring an additional 15,132 shares during the period. Personal CFO Solutions LLC raised its stake in shares of Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after acquiring an additional 5,151 shares in the last quarter. Finally, First Manhattan CO. LLC. grew its stake in Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock worth $43,777,000 after purchasing an additional 111,015 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SBUX shares. BMO Capital Markets reiterated an "outperform" rating and issued a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. UBS Group lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Guggenheim boosted their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada raised their price target on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Price Performance

SBUX stock opened at $82.88 on Thursday. The company has a fifty day moving average price of $90.94 and a 200 day moving average price of $91.23. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a market cap of $94.21 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 4.99 and a beta of 1.00.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the business posted $0.93 EPS. The firm's revenue was up 3.8% on a year-over-year basis. As a group, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.9%. Starbucks's dividend payout ratio is presently 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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