Los Angeles Capital Management LLC Sells 77,709 Shares of Starbucks Corporation $SBUX

Los Angeles Capital Management LLC cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 79.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,681 shares of the coffee company’s stock after selling 77,709 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Starbucks were worth $1,803,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Alliance Wealth Advisors LLC raised its holdings in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after purchasing an additional 108 shares during the last quarter. Brown Lisle Cummings Inc. lifted its position in Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after buying an additional 117 shares in the last quarter. Diligent Investors LLC boosted its stake in shares of Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after buying an additional 117 shares during the last quarter. Ted Buchan & Co grew its holdings in shares of Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after acquiring an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. increased its position in shares of Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Up 2.2%

Shares of Starbucks stock opened at $86.42 on Wednesday. The stock has a fifty day simple moving average of $83.79 and a 200 day simple moving average of $87.56. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The company has a market capitalization of $98.23 billion, a P/E ratio of 52.70, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research reports. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. BTIG Research reiterated a “buy” rating and set a $105.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Loop Capital set a $165.00 price target on shares of Starbucks in a research report on Tuesday, August 12th. Finally, Mizuho upgraded shares of Starbucks to a “hold” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.50.

Starbucks Company 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.