Bahl & Gaynor Inc. Decreases Stake in Starbucks Corporation $SBUX

Key Points

• Bahl & Gaynor Inc. has reduced its holdings in Starbucks Corporation ($SBUX) by 57.0%, now owning 219,022 shares valued at approximately $21.48 million.
• Despite some institutional investors increasing their stakes, Starbucks reported $0.50 earnings per share, missing the consensus estimate of $0.64, although revenue of $9.46 billion exceeded expectations.
• Starbucks has declared a quarterly dividend of $0.61 per share, with an annualized yield of 2.8%, reflecting a payout ratio of 105.17%.

Bahl & Gaynor Inc. reduced its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 57.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 219,022 shares of the coffee company's stock after selling 290,519 shares during the quarter. Bahl & Gaynor Inc.'s holdings in Starbucks were worth $21,484,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $25,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks during the first quarter valued at approximately $29,000. Kapitalo Investimentos Ltda bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $32,000. Finally, Ball & Co Wealth Management Inc. bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $41,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 1.0%

Starbucks stock traded up $0.82 during mid-day trading on Tuesday, hitting $86.63. The company had a trading volume of 9,305,358 shares, compared to its average volume of 11,582,295. The stock's 50 day moving average price is $92.24 and its two-hundred day moving average price is $93.06. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a market capitalization of $98.47 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 5.09 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share 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 business had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. Starbucks's payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research reports. Sanford C. Bernstein lifted their price target on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group restated a "neutral" rating and set a $95.00 price target (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Citigroup dropped their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Barclays lifted their price target on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets restated an "outperform" rating and set a $115.00 price target (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.40.

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.