Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 80.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,390 shares of the coffee company's stock after selling 409,816 shares during the quarter. Los Angeles Capital Management LLC's holdings in Starbucks were worth $9,553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the 4th quarter worth $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the 4th quarter worth $26,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the 1st quarter worth $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks in the 4th quarter worth $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of Starbucks in the 4th quarter worth $41,000. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SBUX. UBS Group reissued a "neutral" rating on shares of Starbucks in a research report on Monday. CICC Research assumed coverage on Starbucks in a research report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective for the company. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Sanford C. Bernstein raised 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. Finally, Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price for the company. in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $98.58.

Starbucks Stock Performance

Shares of Starbucks stock traded down $0.76 on Friday, hitting $92.95. The company's stock had a trading volume of 2,820,731 shares, compared to its average volume of 10,256,196. Starbucks Corporation has a 1 year low of $72.72 and a 1 year high of $117.46. The firm has a fifty day moving average price of $90.87 and a 200-day moving average price of $94.63. The company has a market capitalization of $105.62 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 6.63 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. Starbucks's revenue for the quarter 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 year.

Starbucks Dividend Announcement

The company 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 dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.63%. Starbucks's dividend payout ratio (DPR) is currently 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.