Starbucks Corporation $SBUX Shares Sold by Autumn Glory Partners LLC

Autumn Glory Partners LLC cut its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,399 shares of the coffee company’s stock after selling 183 shares during the quarter. Autumn Glory Partners LLC’s holdings in Starbucks were worth $1,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after buying an additional 953,361 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Starbucks by 22.3% in 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 buying an additional 3,545,655 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Starbucks in the first quarter valued at about $1,379,619,000. Goldman Sachs Group Inc. grew its stake in shares of Starbucks by 59.5% in 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 buying an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Starbucks in the first quarter valued at about $817,759,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SBUX shares. UBS Group increased their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a report on Saturday, September 27th. Evercore ISI reissued an “outperform” rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, Barclays increased their price target on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

Starbucks Price Performance

Shares of Starbucks stock opened at $86.42 on Monday. The business’s fifty day moving average price is $87.56 and its two-hundred day moving average price is $88.46. The company has a market capitalization of $98.23 billion, a P/E ratio of 37.25, a PEG ratio of 4.25 and a beta of 1.01. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its 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 net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the previous year, the firm earned $0.93 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s payout ratio is 105.17%.

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.