Douglass Winthrop Advisors LLC Sells 472 Shares of Starbucks Corporation $SBUX

Douglass Winthrop Advisors LLC decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,694 shares of the coffee company’s stock after selling 472 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Starbucks were worth $2,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Starbucks during the 4th quarter worth about $25,000. Hughes Financial Services LLC bought a new position in shares of Starbucks during the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. bought a new position in shares of Starbucks during the first quarter valued at approximately $29,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $32,000. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Starbucks during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SBUX shares. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. Sanford C. Bernstein boosted their target price on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $103.00 price objective (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Starbucks Trading Down 0.2%

Shares of Starbucks stock opened at $88.38 on Friday. The stock’s fifty day moving average price is $92.49 and its 200-day moving average price is $93.54. The firm has a market cap of $100.46 billion, a P/E ratio of 38.09, a P/E/G ratio of 5.26 and a beta of 1.02. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. Analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.8%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

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.