Starbucks Corporation $SBUX Shares Sold by Clifford Swan Investment Counsel LLC

Key Points

• Clifford Swan Investment Counsel LLC reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 3.4%, holding 174,008 shares after selling 6,195 shares in the 2nd quarter.
• Starbucks recently announced a quarterly dividend increase to $0.62 per share, with an ex-dividend date of November 14th, yielding 2.9%.
• For the last quarter, Starbucks reported earnings per share of $0.50, missing estimates, although quarterly revenue increased by 3.8% year-over-year to $9.46 billion.

Clifford Swan Investment Counsel LLC decreased its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,008 shares of the coffee company's stock after selling 6,195 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in Starbucks were worth $15,944,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. RNC Capital Management LLC raised its holdings in shares of Starbucks by 3.4% during the second quarter. RNC Capital Management LLC now owns 24,910 shares of the coffee company's stock valued at $2,282,000 after acquiring an additional 819 shares during the last quarter. Freedom Investment Management Inc. increased its position in shares of Starbucks by 6.5% during the second quarter. Freedom Investment Management Inc. now owns 3,244 shares of the coffee company's stock worth $297,000 after purchasing an additional 199 shares in the last quarter. Forum Financial Management LP raised its stake in Starbucks by 6.5% in the 2nd quarter. Forum Financial Management LP now owns 19,651 shares of the coffee company's stock valued at $1,801,000 after purchasing an additional 1,204 shares during the last quarter. Members Trust Co raised its stake in Starbucks by 72.4% in the 2nd quarter. Members Trust Co now owns 11,991 shares of the coffee company's stock valued at $1,099,000 after purchasing an additional 5,037 shares during the last quarter. Finally, Exencial Wealth Advisors LLC lifted its holdings in Starbucks by 5.6% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 2,810 shares of the coffee company's stock valued at $258,000 after purchasing an additional 148 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $85.50 on Thursday. The company has a market cap of $97.19 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 4.31 and a beta of 1.01. The stock's 50-day moving average is $85.25 and its two-hundred day moving average is $87.39. 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 released its 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). 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 earnings per share. The firm's quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks's previous quarterly dividend of $0.61. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SBUX shares. TD Cowen dropped their target price on shares of Starbucks from $88.00 to $84.00 and set a "hold" rating for the company in a report on Friday, October 10th. UBS Group set a $94.00 target price on shares of Starbucks and gave the stock a "neutral" rating in a research note on Tuesday. Stifel Nicolaus boosted their target price on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the stock an "overweight" rating in a research report on Thursday, October 16th. Finally, BTIG Research set a $105.00 price target on Starbucks in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.80.

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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