Starbucks Corporation $SBUX Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its position in Starbucks Corporation (NASDAQ:SBUX) by 5.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 133,130 shares of the coffee company’s stock after selling 7,547 shares during the period. Candriam S.C.A.’s holdings in Starbucks were worth $12,199,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Game Plan Financial Advisors LLC acquired a new position in Starbucks during the second quarter worth about $25,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks in the first quarter valued at approximately $29,000. Finally, Nova Wealth Management Inc. increased its holdings in shares of Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $84.78 on Friday. The firm has a 50-day simple moving average of $83.76 and a two-hundred day simple moving average of $87.56. The stock has a market cap of $96.37 billion, a PE ratio of 51.70, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The company had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the previous year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s payout ratio is presently 151.22%.

Wall Street Analyst Weigh In

Several analysts have issued reports on SBUX shares. JPMorgan Chase & Co. upped their target price on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Guggenheim boosted their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Mizuho upgraded shares of Starbucks to a “hold” rating in a research report on Tuesday, October 28th. Bank of America boosted their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. One research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $85.00 per share, with a total value of $994,500.00. Following the purchase, the director owned 53,096 shares in the company, valued at approximately $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Starbucks 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.