Starbucks Corporation (NASDAQ:SBUX) Stock Position Cut by Ironwood Investment Counsel LLC

Key Points

• Ironwood Investment Counsel LLC has reduced its stake in Starbucks by 44.9%, selling over 20,000 shares during the first quarter, leaving them with 25,421 shares valued at approximately $2.49 million.
• Starbucks reported $0.50 EPS for the latest quarter, missing consensus estimates by $0.14, despite a year-over-year revenue increase of 3.8% to $9.46 billion.
• The company has declared a quarterly dividend of $0.61 per share, set to be paid on August 29th, representing an annualized yield of 2.7%.

Ironwood Investment Counsel LLC trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 44.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,421 shares of the coffee company's stock after selling 20,741 shares during the quarter. Ironwood Investment Counsel LLC's holdings in Starbucks were worth $2,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Capital Wealth Advisors acquired a new position in Starbucks in the fourth quarter worth approximately $285,000. Czech National Bank lifted its holdings 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 valued at $25,591,000 after purchasing an additional 15,132 shares during the last quarter. Personal CFO Solutions LLC lifted its holdings in shares of Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after purchasing an additional 5,151 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Starbucks by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after purchasing an additional 3,130 shares in the last quarter. Finally, Norden Group LLC raised its holdings in Starbucks by 66.1% during the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after buying an additional 12,027 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 1.3%

Shares of NASDAQ:SBUX opened at $88.99 on Thursday. The firm has a market capitalization of $101.15 billion, a PE ratio of 38.36, a PEG ratio of 5.14 and a beta of 1.02. Starbucks Corporation has a 1-year low of $74.75 and a 1-year high of $117.46. The business's 50 day moving average is $91.96 and its 200-day moving average is $94.48.

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

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Analyst Ratings Changes

Several research firms have recently weighed in on SBUX. BMO Capital Markets reissued an "outperform" rating and issued a $115.00 target price (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Bank of America boosted their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price for the company. in a research report on Thursday, July 17th. Royal Bank Of Canada upped their price target on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Citigroup decreased their price objective on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $101.27.

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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