Baird Financial Group Inc. Sells 97,152 Shares of Starbucks Corporation $SBUX

Baird Financial Group Inc. trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 6.7% in the 1st quarter, Holdings Channel reports. The firm owned 1,348,463 shares of the coffee company’s stock after selling 97,152 shares during the quarter. Baird Financial Group Inc.’s holdings in Starbucks were worth $132,271,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the period. Wellington Management Group LLP boosted its holdings in Starbucks by 22.3% in the 1st 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 during the period. Nuveen LLC bought a new position in Starbucks in the 1st quarter valued at $1,379,619,000. Goldman Sachs Group Inc. lifted its holdings in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Starbucks during the 1st quarter worth $817,759,000. 72.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $95.00 price objective (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Cowen reaffirmed a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Sanford C. Bernstein lifted their price objective on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

Starbucks Stock Up 0.2%

Shares of NASDAQ:SBUX opened at $88.19 on Friday. The stock has a market cap of $100.25 billion, a PE ratio of 38.01, a PEG ratio of 5.22 and a beta of 1.02. The company’s fifty day moving average is $91.96 and its 200 day moving average is $92.70. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 EPS. Sell-side analysts anticipate that Starbucks Corporation will post 2.99 EPS 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 given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

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.