Starbucks Corporation $SBUX Shares Sold by Clarius Group LLC

Clarius Group LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,324 shares of the coffee company’s stock after selling 1,615 shares during the period. Starbucks makes up approximately 2.2% of Clarius Group LLC’s investment portfolio, making the stock its 10th biggest position. Clarius Group LLC’s holdings in Starbucks were worth $37,690,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SBUX. Chelsea Counsel Co. bought a new stake in shares of Starbucks during the second quarter worth $26,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the first quarter worth $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks during the first quarter worth $29,000. Finally, Nova Wealth Management Inc. grew its stake in shares of Starbucks by 285.4% during the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after buying an additional 234 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Down 0.3%

Shares of NASDAQ SBUX opened at $86.42 on Friday. The firm’s 50-day moving average price is $87.56 and its 200-day moving average price is $88.53. 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 $98.23 billion, a P/E ratio of 37.25, a P/E/G ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share 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 analyst estimates of $9.29 billion. During the same quarter in the prior year, the company posted $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm 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 $0.62 dividend. 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%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Wells Fargo & Company boosted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Finally, Citigroup reduced their price objective on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.00.

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.