Starbucks Corporation $SBUX Shares Sold by Laffer Tengler Investments Inc.

Laffer Tengler Investments Inc. reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,192 shares of the coffee company’s stock after selling 7,371 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Starbucks were worth $5,515,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vise Technologies Inc. acquired a new stake in shares of Starbucks in the second quarter valued at about $2,561,000. Allworth Financial LP increased its holdings in Starbucks by 7.8% in the second quarter. Allworth Financial LP now owns 203,055 shares of the coffee company’s stock valued at $18,606,000 after buying an additional 14,690 shares in the last quarter. Americana Partners LLC increased its holdings in Starbucks by 12.3% in the second quarter. Americana Partners LLC now owns 8,057 shares of the coffee company’s stock valued at $738,000 after buying an additional 883 shares in the last quarter. Fountainhead AM LLC lifted its position in shares of Starbucks by 20.5% during the 2nd quarter. Fountainhead AM LLC now owns 4,568 shares of the coffee company’s stock valued at $419,000 after acquiring an additional 776 shares during the period. Finally, Compass Capital Management Inc. purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $9,327,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $85.57 on Monday. The firm has a market cap of $97.27 billion, a P/E ratio of 52.18, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm’s 50 day moving average price is $83.92 and its 200 day moving average price is $87.54.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 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 analysts’ expectations of $9.41 billion. During the same quarter last year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on SBUX shares. JPMorgan Chase & Co. lifted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Guggenheim lifted their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Sanford C. Bernstein set a $100.00 target price on shares of Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Hold” and an average price target of $100.50.

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.