L. Roy Papp & Associates LLP Sells 680 Shares of Starbucks Corporation $SBUX

L. Roy Papp & Associates LLP lessened its position in Starbucks Corporation (NASDAQ:SBUX) by 12.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,901 shares of the coffee company’s stock after selling 680 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Starbucks were worth $449,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Starbucks by 160.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 59,353 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 36,602 shares during the last quarter. KRS Capital Management LLC lifted its holdings in shares of Starbucks by 12.5% in the 2nd quarter. KRS Capital Management LLC now owns 3,662 shares of the coffee company’s stock worth $336,000 after acquiring an additional 406 shares during the last quarter. Coerente Capital Management lifted its holdings in shares of Starbucks by 0.4% in the 2nd quarter. Coerente Capital Management now owns 210,020 shares of the coffee company’s stock worth $19,244,000 after acquiring an additional 906 shares during the last quarter. Callan Family Office LLC lifted its holdings in shares of Starbucks by 170.7% in the 2nd quarter. Callan Family Office LLC now owns 32,642 shares of the coffee company’s stock worth $2,991,000 after acquiring an additional 20,582 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Starbucks by 4.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 5,478 shares of the coffee company’s stock worth $502,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $79.78 on Friday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The firm has a market cap of $90.69 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.95 and a beta of 1.01. The firm has a 50-day simple moving average of $86.65 and a 200-day simple moving average of $88.14.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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). 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 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% compared to the same quarter last year. On average, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is presently 105.17%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBUX. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Guggenheim upped their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday. Finally, Royal Bank Of Canada upped their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $104.00.

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.