TD Asset Management Inc Has $102.93 Million Holdings in Starbucks Corporation $SBUX

Key Points

• TD Asset Management Inc reduced its holdings in Starbucks Corporation by 60.5% in Q2, owning 1,123,358 shares valued at $102.93 million after selling 1,721,660 shares.
• Starbucks has announced a quarterly dividend increase to $0.62 per share, representing a dividend yield of 3.1%, with a payout ratio currently at 105.17%.
• As of the latest reports, Starbucks' stock has received an average rating of "Moderate Buy" with a consensus target price of $102.96 from various research analysts.

TD Asset Management Inc lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 60.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,123,358 shares of the coffee company's stock after selling 1,721,660 shares during the quarter. TD Asset Management Inc owned 0.10% of Starbucks worth $102,933,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SBUX. Nuveen LLC acquired a new stake in shares of Starbucks during the first quarter valued at approximately $1,379,619,000. Jennison Associates LLC acquired a new stake in shares of Starbucks during the first quarter valued at approximately $817,759,000. Polen Capital Management LLC purchased a new position in Starbucks during the first quarter valued at approximately $503,539,000. Goldman Sachs Group Inc. grew its position in Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Up 1.4%

SBUX stock opened at $81.15 on Wednesday. The company has a market capitalization of $92.24 billion, a price-to-earnings ratio of 34.98, a P/E/G ratio of 3.97 and a beta of 1.01. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a 50 day moving average of $86.11 and a two-hundred day moving average of $87.70.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share. On average, research 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. Investors of record on Friday, November 14th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. This is an increase from Starbucks's previous quarterly dividend of $0.61. Starbucks's payout ratio is currently 105.17%.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. BTIG Research set a $105.00 price objective on shares of Starbucks in a research report on Thursday, September 25th. Stifel Nicolaus boosted their price objective 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. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Cowen reaffirmed a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Citigroup lowered their price objective on shares of Starbucks from $99.00 to $84.00 and set a "neutral" rating on the stock in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.96.

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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