Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Vista Capital Partners Inc.

Vista Capital Partners Inc. trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,220 shares of the coffee company’s stock after selling 225 shares during the quarter. Starbucks makes up 0.4% of Vista Capital Partners Inc.’s investment portfolio, making the stock its 13th largest position. Vista Capital Partners Inc.’s holdings in Starbucks were worth $3,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighPoint Advisor Group LLC raised its stake in Starbucks by 12.5% during the 1st quarter. HighPoint Advisor Group LLC now owns 45,378 shares of the coffee company’s stock worth $4,451,000 after acquiring an additional 5,048 shares in the last quarter. Crestwood Advisors Group LLC grew its position in Starbucks by 8.4% during the 1st quarter. Crestwood Advisors Group LLC now owns 46,967 shares of the coffee company’s stock worth $4,607,000 after purchasing an additional 3,658 shares during the last quarter. Wealth Dimensions Group Ltd. boosted its holdings in shares of Starbucks by 15.7% in the first quarter. Wealth Dimensions Group Ltd. now owns 3,171 shares of the coffee company’s stock valued at $311,000 after acquiring an additional 430 shares in the last quarter. William Allan Corp boosted its holdings in shares of Starbucks by 0.6% in the first quarter. William Allan Corp now owns 63,392 shares of the coffee company’s stock valued at $6,218,000 after acquiring an additional 405 shares in the last quarter. Finally, Wealth Alliance LLC boosted its holdings in shares of Starbucks by 13.1% in the first quarter. Wealth Alliance LLC now owns 13,274 shares of the coffee company’s stock valued at $1,302,000 after acquiring an additional 1,534 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of Starbucks stock opened at $93.73 on Monday. The business’s 50 day simple moving average is $90.22 and its two-hundred day simple moving average is $94.60. The stock has a market capitalization of $106.51 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 4.76 and a beta of 1.02. Starbucks Corporation has a one year low of $72.73 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced 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. This represents a $2.44 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Friday, August 15th. Starbucks’s dividend payout ratio is currently 88.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SBUX shares. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Barclays decreased their price objective on shares of Starbucks from $108.00 to $106.00 and set an “overweight” rating on the stock in a report on Thursday. BMO Capital Markets decreased their price objective on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Cowen reissued a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, Guggenheim cut their target price on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.58.

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.