Trillium Asset Management LLC Sells 35,384 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Trillium Asset Management LLC has reduced its stake in Starbucks by 15%, selling 35,384 shares, and now holds 200,057 shares worth approximately $19.62 million.
• Starbucks reported $0.50 EPS in its last quarterly earnings, missing the expected $0.64 EPS, while its revenue increased by 3.8% year-over-year to $9.46 billion.
• The company has announced a quarterly dividend of $0.61 per share, with an annualized yield of 2.7%, although its current payout ratio stands at 105.17%.

Trillium Asset Management LLC lowered its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,057 shares of the coffee company's stock after selling 35,384 shares during the period. Trillium Asset Management LLC's holdings in Starbucks were worth $19,624,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after buying an additional 81,952 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Starbucks by 6.2% in the 4th quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company's stock worth $486,000 after purchasing an additional 311 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $728,000. SageView Advisory Group LLC raised its position in shares of Starbucks by 4.2% in the 4th quarter. SageView Advisory Group LLC now owns 11,814 shares of the coffee company's stock worth $1,078,000 after purchasing an additional 471 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its position in shares of Starbucks by 2.0% in the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the coffee company's stock worth $927,000 after purchasing an additional 196 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SBUX. Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Bank of America lifted their price target on Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. TD Securities reaffirmed a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Finally, Barclays boosted their target price on Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $104.19.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.81 during midday trading on Wednesday, hitting $94.18. 6,490,754 shares of the company's stock traded hands, compared to its average volume of 11,890,718. The firm has a fifty day moving average of $92.65 and a 200 day moving average of $94.31. The stock has a market capitalization of $107.05 billion, a price-to-earnings ratio of 40.60, a price-to-earnings-growth ratio of 5.32 and a beta of 1.02. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

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

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.6%. Starbucks's 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.