Starbucks Corporation $SBUX Shares Sold by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Starbucks Corporation by 14.1%, selling 6,642 shares in the 1st quarter, leaving them with 40,616 shares valued at approximately $3.98 million.
• Starbucks reported $0.50 earnings per share for the most recent quarter, missing analysts' expectations of $0.64, while revenue rose 3.8% year-over-year to $9.46 billion.
• The company will pay a quarterly dividend of $0.61 on August 29th, with an annualized dividend yield of 2.8%, despite having a payout ratio of 105.17%.

OMERS ADMINISTRATION Corp lessened its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,616 shares of the coffee company's stock after selling 6,642 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Starbucks were worth $3,984,000 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 SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks in the first quarter valued at approximately $29,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Trading Up 0.4%

Shares of NASDAQ SBUX opened at $88.02 on Friday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a fifty day simple moving average of $92.06 and a 200-day simple moving average of $92.86. The stock has a market capitalization of $100.05 billion, a PE ratio of 37.94, a PEG ratio of 5.20 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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 net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.8%. Starbucks's payout ratio is presently 105.17%.

Analyst Ratings Changes

SBUX has been the subject of several recent research reports. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target for the company. in a report on Thursday, July 17th. Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Wells Fargo & Company raised their target price on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Evercore ISI reissued an "outperform" rating and set a $105.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Finally, TD Cowen raised their target price on Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

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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