QV Investors Inc. Decreases Holdings in Starbucks Corporation $SBUX

QV Investors Inc. cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 84,970 shares of the coffee company’s stock after selling 1,380 shares during the quarter. QV Investors Inc.’s holdings in Starbucks were worth $7,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth $25,000. Chelsea Counsel Co. purchased a new stake in shares of Starbucks in the 2nd quarter worth $26,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks in the 1st quarter worth $27,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Starbucks by 125.2% in 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 in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks in the 1st quarter worth $29,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on SBUX shares. Loop Capital set a $165.00 price objective on Starbucks in a research note on Tuesday, August 12th. Sanford C. Bernstein upped their price objective on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Stifel Nicolaus upped their target price on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. UBS Group set a $94.00 target price on shares of Starbucks and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Finally, Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.80.

Starbucks Stock Up 0.8%

SBUX opened at $86.09 on Friday. The firm has a 50-day simple moving average of $85.01 and a two-hundred day simple moving average of $87.53. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The company has a market capitalization of $97.86 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 4.32 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the company earned $0.93 EPS. The firm’s revenue for the quarter was up 3.8% 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 year.

Starbucks Increases Dividend

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