Starbucks Corporation $SBUX Shares Sold by Lincoln Capital LLC

Key Points

• Lincoln Capital LLC reduced its stake in Starbucks Corporation by 1.7%, now holding 165,891 shares valued at approximately $16.27 million, making it the 7th largest position in their portfolio.
• Starbucks reported $0.50 EPS for the last quarter, missing expectations of $0.64, while revenue reached $9.46 billion, surpassing the anticipated $9.29 billion.
• The company declared a quarterly dividend of $0.61 per share, with a payout ratio of 105.17%, indicating a strong commitment to returning value to shareholders despite the earnings miss.

Lincoln Capital LLC decreased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,891 shares of the coffee company's stock after selling 2,865 shares during the period. Starbucks comprises 3.3% of Lincoln Capital LLC's investment portfolio, making the stock its 7th biggest position. Lincoln Capital LLC's holdings in Starbucks were worth $16,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Starbucks during the 1st quarter worth approximately $1,379,619,000. Jennison Associates LLC acquired a new position in shares of Starbucks during the 1st quarter worth approximately $817,759,000. Polen Capital Management LLC acquired a new position in shares of Starbucks during the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. raised its stake in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after buying an additional 3,589,537 shares during the period. Finally, Capital Research Global Investors raised its stake in shares of Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after buying an additional 3,563,942 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $90.60 on Monday. The business has a 50-day moving average of $92.80 and a 200 day moving average of $93.99. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a market capitalization of $102.99 billion, a price-to-earnings ratio of 39.05, a price-to-earnings-growth ratio of 5.32 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 EPS. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders 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 is Friday, August 15th. Starbucks's payout ratio is 105.17%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank Of Canada boosted their price target on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. 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. Barclays boosted their price target on shares of Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Evercore ISI restated an "outperform" rating and set a $105.00 price target (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $103.65.

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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