Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP reduced its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,928,154 shares of the coffee company's stock after selling 164,821 shares during the quarter. Sustainable Growth Advisers LP owned approximately 0.17% of Starbucks worth $189,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks during the fourth quarter valued at $25,000. Graney & King LLC bought a new stake in Starbucks in the 4th quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the 1st quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new stake in Starbucks in the 4th quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in Starbucks in the 4th quarter valued at $41,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 0.8%

Shares of SBUX stock traded up $0.72 during mid-day trading on Friday, hitting $94.42. 7,218,991 shares of the stock were exchanged, compared to its average volume of 10,288,601. The company has a market cap of $107.30 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 6.63 and a beta of 1.02. Starbucks Corporation has a 52-week low of $72.72 and a 52-week high of $117.46. The firm has a fifty day moving average of $90.87 and a 200 day moving average of $94.63.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. Equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks's payout ratio is currently 88.41%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Citigroup restated a "neutral" rating and issued a $100.00 target price (up from $95.00) on shares of Starbucks in a research note on Monday, July 14th. Cowen restated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Guggenheim dropped their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price for the company. in a research report on Thursday, July 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $98.58.

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.