Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Middleton & Co. Inc. MA

Key Points

• Middleton & Co. Inc. significantly reduced its position in Starbucks Corporation by 49.7%, selling over 27,000 shares, which left them with a total of 27,497 shares valued at approximately $2.7 million.
• Starbucks reported earnings of $0.50 per share, missing consensus estimates by $0.14, although their revenue of $9.46 billion surpassed expectations.
• The company announced a quarterly dividend of $0.61 per share, resulting in an annualized dividend yield of 2.7%, with a payout ratio of 105.17%.

Middleton & Co. Inc. MA cut its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 49.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,497 shares of the coffee company's stock after selling 27,137 shares during the quarter. Middleton & Co. Inc. MA's holdings in Starbucks were worth $2,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the fourth quarter worth approximately $25,000. Hughes Financial Services LLC bought a new stake in Starbucks during the 1st quarter valued at $27,000. Kapitalo Investimentos Ltda bought a new stake in Starbucks during the 4th quarter valued at $32,000. Ball & Co Wealth Management Inc. acquired a new position in Starbucks during the 4th quarter worth $41,000. Finally, Accredited Wealth Management LLC bought a new position in shares of Starbucks in the fourth quarter worth $44,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Starbucks stock opened at $89.78 on Tuesday. The company has a 50 day moving average price of $91.83 and a 200 day moving average price of $94.55. Starbucks Corporation has a 52 week low of $72.72 and a 52 week high of $117.46. The firm has a market capitalization of $102.05 billion, a price-to-earnings ratio of 38.70, a P/E/G ratio of 4.95 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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). The business had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 EPS. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.7%. Starbucks's dividend payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research analyst reports. Sanford C. Bernstein raised their price target on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Cowen reissued a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Jefferies Financial Group downgraded 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. Robert W. Baird upped their price target on shares of Starbucks from $88.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada raised their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Four 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 company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $101.27.

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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