Starbucks Corporation $SBUX Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,607 shares of the coffee company’s stock after selling 168 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Starbucks were worth $1,064,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks in the fourth quarter worth about $25,000. Hughes Financial Services LLC bought a new stake in Starbucks in the first quarter worth about $27,000. CBIZ Investment Advisory Services LLC raised its position in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Starbucks in the first quarter worth about $29,000. Finally, Nova Wealth Management Inc. raised its position in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after acquiring an additional 234 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $81.90 on Monday. The stock has a market cap of $93.10 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 4.89 and a beta of 1.00. The business has a 50 day simple moving average of $90.45 and a 200 day simple moving average of $90.47. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced 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). The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. On average, analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s dividend payout ratio is currently 105.17%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler set a $105.00 price objective on Starbucks and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Cowen restated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. TD Securities restated a “hold” rating and set a $90.00 price objective on shares of Starbucks in a report on Monday, June 23rd. BMO Capital Markets restated an “outperform” rating and set a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $104.40.

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.