Starbucks Corporation $SBUX Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 11.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,562,754 shares of the coffee company’s stock after selling 193,564 shares during the quarter. Bank of Montreal Can owned about 0.14% of Starbucks worth $143,195,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Narwhal Capital Management raised its position in Starbucks by 39.6% in the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after acquiring an additional 9,282 shares in the last quarter. PUREfi Wealth LLC bought a new stake in Starbucks in the second quarter worth about $286,000. Napa Wealth Management bought a new stake in Starbucks in the first quarter worth about $1,435,000. Morningstar Investment Management LLC bought a new stake in Starbucks in the second quarter worth about $653,000. Finally, Pegasus Asset Management Inc. purchased a new position in Starbucks in the 2nd quarter worth about $1,289,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Piper Sandler dropped their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Morgan Stanley set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Stifel Nicolaus lifted their price target on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.50.

Starbucks Price Performance

Shares of SBUX opened at $80.96 on Tuesday. The company has a market capitalization of $92.03 billion, a price-to-earnings ratio of 49.37, a P/E/G ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The business’s 50-day moving average is $84.33 and its 200-day moving average is $87.51.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. Starbucks’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. Equities 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. Investors of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

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.