TD Waterhouse Canada Inc. Sells 16,581 Shares of Starbucks Corporation $SBUX

TD Waterhouse Canada Inc. trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 21.6% during the 2nd quarter, Holdings Channel reports. The fund owned 60,336 shares of the coffee company’s stock after selling 16,581 shares during the period. TD Waterhouse Canada Inc.’s holdings in Starbucks were worth $5,724,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Game Plan Financial Advisors LLC purchased a new position in Starbucks during the second quarter valued at approximately $25,000. Chelsea Counsel Co. purchased a new stake in Starbucks during the second quarter worth $26,000. CBIZ Investment Advisory Services LLC boosted its position in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. MTM Investment Management LLC purchased a new position in shares of Starbucks in the 2nd quarter valued at $28,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Starbucks in the 1st quarter worth $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SBUX shares. Barclays dropped their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Loop Capital set a $165.00 price objective on shares of Starbucks in a research note on Tuesday, August 12th. Royal Bank Of Canada set a $100.00 target price on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Sanford C. Bernstein set a $100.00 price target on shares of Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.44.

Starbucks Price Performance

Shares of SBUX opened at $82.62 on Friday. The company’s fifty day moving average price is $83.76 and its 200-day moving average price is $87.57. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $93.91 billion, a PE ratio of 50.38, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02.

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

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors 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 3.0%. This is a positive change 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 151.22%.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the acquisition, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

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.