Starbucks Corporation $SBUX Stock Position Reduced by InvesTrust

Key Points

• InvesTrust has significantly reduced its stake in Starbucks Corporation (64.5% decrease), selling 42,077 shares and now owning 23,198 shares valued at approximately $2.13 million.
• Starbucks reported $0.50 earnings per share for the latest quarter, missing analysts' expectations of $0.64 by a margin of $0.14, despite revenue increasing by 3.8% year-over-year.
• The company announced a quarterly dividend of $0.61 per share, representing an annualized yield of 3.0%, with a payout ratio of 105.17%.

InvesTrust cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 64.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,198 shares of the coffee company's stock after selling 42,077 shares during the period. InvesTrust's holdings in Starbucks were worth $2,126,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. TrinityPoint Wealth LLC lifted its position in Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after purchasing an additional 89 shares during the period. Benin Management CORP lifted its position in Starbucks by 0.7% during the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock valued at $1,626,000 after purchasing an additional 120 shares during the period. Ted Buchan & Co lifted its position in Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock valued at $791,000 after purchasing an additional 120 shares during the period. Alexander Labrunerie & CO. Inc. lifted its position in Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock valued at $349,000 after purchasing an additional 122 shares during the period. Finally, Private Wealth Management Group LLC lifted its position in Starbucks by 13.3% during the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company's stock valued at $104,000 after purchasing an additional 124 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $81.90 on Friday. The company has a market capitalization of $93.10 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 4.92 and a beta of 1.00. The firm's 50 day simple moving average is $90.45 and its 200 day simple moving average is $90.79. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two 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 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 quarter in the prior year, the business earned $0.93 earnings per share. The business's revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks's dividend payout ratio is presently 105.17%.

Analysts Set New Price Targets

A number of research analysts have issued reports on SBUX shares. Bank of America upped their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. TD Securities restated a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. TD Cowen upped their target price on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus increased their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks 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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