Starbucks Corporation $SBUX Shares Sold by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale has reduced its holdings in Starbucks Corporation by 10.0%, selling 43,395 shares and holding a total of 389,057 shares valued at approximately $36.19 million.
• Starbucks reported $0.50 EPS for the last quarter, missing estimates by $0.14, although its revenue of $9.46 billion exceeded expectations of $9.29 billion, showing a year-over-year revenue increase of 3.8%.
• The company has increased its quarterly dividend to $0.62 per share, reflecting a positive change from the previous $0.61, and the annualized dividend yield stands at 2.9% with a payout ratio of 105.17%.

DekaBank Deutsche Girozentrale lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 389,057 shares of the coffee company's stock after selling 43,395 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Starbucks were worth $36,190,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SBUX. Game Plan Financial Advisors LLC purchased a new position in shares of Starbucks in the 2nd quarter worth $25,000. Chelsea Counsel Co. purchased a new stake in Starbucks during the second quarter valued at about $26,000. Hughes Financial Services LLC purchased a new stake in Starbucks during the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks during the first quarter worth about $29,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 1.6%

Shares of NASDAQ:SBUX opened at $85.90 on Wednesday. The firm's 50 day moving average is $85.42 and its two-hundred day moving average is $87.40. The firm has a market capitalization of $97.64 billion, a P/E ratio of 37.03, a PEG ratio of 4.24 and a beta of 1.01. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.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 EPS. Analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This is a positive change from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks's payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SBUX. Loop Capital set a $165.00 price target on Starbucks in a report on Tuesday, August 12th. Royal Bank Of Canada increased their target price on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Stifel Nicolaus raised their price target on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the stock an "overweight" rating in a research note on Thursday, October 16th. Finally, Sanford C. Bernstein increased their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.60.

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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