Vident Advisory LLC Reduces Holdings in Starbucks Corporation $SBUX

Key Points

• Vident Advisory LLC reduced its holdings in Starbucks by 14.6%, selling 12,277 shares and ending the quarter with 71,601 shares valued at approximately $7 million.
• Starbucks reported a disappointing $0.50 earnings per share for the last quarter, missing analysts' estimates of $0.64, despite a revenue increase to $9.46 billion.
• The company recently declared a quarterly dividend of $0.61 per share, reflecting an annualized yield of 2.8%, with a payout ratio of 105.17%.

Vident Advisory LLC decreased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,601 shares of the coffee company's stock after selling 12,277 shares during the quarter. Vident Advisory LLC's holdings in Starbucks were worth $7,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Napa Wealth Management purchased a new position in shares of Starbucks in the first quarter worth approximately $1,435,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Starbucks in the fourth quarter worth approximately $285,000. Czech National Bank boosted its holdings in shares of Starbucks by 6.2% in the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after buying an additional 15,132 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after buying an additional 5,151 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Starbucks in the first quarter worth approximately $998,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Trading Up 0.2%

SBUX traded up $0.17 during trading hours on Monday, hitting $88.19. The company's stock had a trading volume of 6,312,155 shares, compared to its average volume of 8,217,745. The business's 50-day moving average price is $91.88 and its 200-day moving average price is $92.25. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a market cap of $100.25 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 5.23 and a beta of 1.00.

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 the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, August 15th. Starbucks's payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research reports. TD Securities reissued a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a report on Monday, June 23rd. UBS Group raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group restated a "neutral" rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Finally, CICC Research started coverage on shares of Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.