Starbucks Corporation $SBUX Shares Sold by Naples Global Advisors LLC

Key Points

• Naples Global Advisors LLC reduced its stake in Starbucks Corporation by 5.7%, holding 52,965 shares worth approximately $4.85 million after selling 3,186 shares in the second quarter.
• Starbucks announced a quarterly dividend increase from $0.61 to $0.62 per share, with a yield of 2.9% and a payout ratio of 105.17%.
• Starbucks reported earnings per share (EPS) of $0.50, missing analysts' estimates by $0.14, while revenues reached $9.46 billion, exceeding expectations of $9.29 billion.

Naples Global Advisors LLC lessened its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,965 shares of the coffee company's stock after selling 3,186 shares during the quarter. Naples Global Advisors LLC's holdings in Starbucks were worth $4,853,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Alliance Wealth Advisors LLC lifted its stake in Starbucks by 2.1% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company's stock valued at $474,000 after buying an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. lifted its stake in Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company's stock valued at $760,000 after buying an additional 117 shares in the last quarter. Benin Management CORP lifted its stake in Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock valued at $1,626,000 after buying an additional 120 shares in the last quarter. Ted Buchan & Co lifted its stake in Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock valued at $791,000 after buying an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. lifted its stake in Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock valued at $349,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $84.40 on Thursday. The company's 50-day simple moving average is $87.86 and its 200-day simple moving average is $88.77. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a market capitalization of $95.94 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 5.12 and a beta of 1.01.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its 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). 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 the consensus estimate of $9.29 billion. During the same period in the prior year, the business earned $0.93 EPS. The business's revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. 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 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks's dividend payout ratio is 105.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SBUX shares. Stifel Nicolaus upped their target price on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 11th. TD Cowen reaffirmed a "hold" rating and issued a $95.00 target price on shares of Starbucks in a research note on Thursday, September 25th. Sanford C. Bernstein upped their target price on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Cowen reaffirmed a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. increased their price target on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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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