Starbucks Corporation $SBUX Shares Sold by DeDora Capital Inc.

DeDora Capital Inc. reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,708 shares of the coffee company’s stock after selling 186 shares during the period. DeDora Capital Inc.’s holdings in Starbucks were worth $340,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.9% during the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after acquiring an additional 953,361 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Starbucks during the first quarter valued at about $1,379,619,000. Goldman Sachs Group Inc. grew its stake in shares of Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after acquiring an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Starbucks during the first quarter valued at about $817,759,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Sanford C. Bernstein raised their target price on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Bank of America increased their price target on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Citigroup reduced their price target on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Cowen reaffirmed a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $102.76.

Starbucks Stock Up 1.2%

Shares of NASDAQ SBUX opened at $85.36 on Friday. The firm’s 50-day moving average price is $85.72 and its two-hundred day moving average price is $87.40. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market capitalization of $97.03 billion, a P/E ratio of 36.79, a P/E/G ratio of 4.22 and a beta of 1.01.

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 analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during 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 business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 EPS. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current 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 dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is presently 105.17%.

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.