Starbucks Corporation $SBUX Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Starbucks Corporation by 4.5%, now holding approximately 882,094 shares worth $80.83 million.
• Starbucks announced a quarterly dividend of $0.62 per share, reflecting an increase from the previous quarter and representing a 3.1% yield.
• In its latest earnings report, Starbucks missed EPS estimates but achieved revenue of $9.46 billion, exceeding expectations by approximately 2%.

US Bancorp DE lessened its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 882,094 shares of the coffee company's stock after selling 41,493 shares during the period. US Bancorp DE owned about 0.08% of Starbucks worth $80,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. PUREfi Wealth LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $286,000. Narwhal Capital Management boosted its holdings in shares of Starbucks by 39.6% in the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company's stock valued at $3,000,000 after buying an additional 9,282 shares in the last quarter. Napa Wealth Management acquired a new position in shares of Starbucks in the 1st quarter valued at $1,435,000. Personal CFO Solutions LLC boosted its holdings in shares of Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after buying an additional 5,151 shares in the last quarter. Finally, First Manhattan CO. LLC. boosted its holdings in shares of Starbucks by 33.1% in the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock valued at $43,777,000 after buying an additional 111,015 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBUX. Weiss Ratings restated a "hold (c)" rating on shares of Starbucks in a report on Wednesday. BTIG Research set a $105.00 target price on shares of Starbucks in a report on Thursday, September 25th. Citigroup upgraded shares of Starbucks from a "neutral" rating to a "mixed" rating in a report on Thursday. Guggenheim upped their target price on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Jefferies Financial Group cut shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target for the company. in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $104.00.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $79.78 on Friday. The stock has a market cap of $90.69 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.95 and a beta of 1.01. The firm has a fifty day moving average price of $86.65 and a 200 day moving average price of $88.14. 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 announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. Sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed 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 represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks's previous quarterly dividend of $0.61. Starbucks's payout ratio is currently 105.17%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.