Starbucks Corporation $SBUX Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced their holdings in Starbucks Corporation by 10.3%, selling 126,023 shares during the second quarter, and now owns approximately 1.09 million shares valued at $100,233,000.
• Starbucks recently announced an increase in its quarterly dividend to $0.62 per share, with an annualized yield of 3.1% and a payout ratio of 105.17%.
• The company's stock price opened at $80.04, with a market cap of $90.98 billion, and reported quarterly earnings of $0.50 per share, missing analysts' estimates.

Blair William & Co. IL lowered its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 10.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,093,892 shares of the coffee company's stock after selling 126,023 shares during the quarter. Blair William & Co. IL owned about 0.10% of Starbucks worth $100,233,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SBUX. Game Plan Financial Advisors LLC acquired a new stake in Starbucks during the 2nd quarter worth $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks during the first quarter worth about $27,000. Chelsea Counsel Co. acquired a new stake in shares of Starbucks during the second quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $80.04 on Thursday. The company has a market cap of $90.98 billion, a PE ratio of 34.50, a P/E/G ratio of 4.01 and a beta of 1.01. The stock has a fifty day moving average price of $86.84 and a 200 day moving average price of $88.25. 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 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 firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks's previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. Starbucks's payout ratio is 105.17%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research reports. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Weiss Ratings reissued a "hold (c)" rating on shares of Starbucks in a report on Wednesday. Citigroup cut their target price on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Zacks Research upgraded shares of Starbucks from a "strong sell" rating to a "hold" rating in a research report on Wednesday, October 1st. Finally, Evercore ISI reissued an "outperform" rating and set a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $104.00.

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.

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