Versor Investments LP Sells 5,811 Shares of Starbucks Corporation $SBUX

Versor Investments LP lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 66.0% during the 2nd quarter, Holdings Channel reports. The fund owned 2,997 shares of the coffee company’s stock after selling 5,811 shares during the period. Versor Investments LP’s holdings in Starbucks were worth $275,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Narwhal Capital Management raised its stake in shares of Starbucks by 39.6% during the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after acquiring an additional 9,282 shares in the last quarter. PUREfi Wealth LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at $286,000. Napa Wealth Management acquired a new stake in shares of Starbucks in the 1st quarter worth $1,435,000. Morningstar Investment Management LLC acquired a new stake in shares of Starbucks in the 2nd quarter worth $653,000. Finally, Pegasus Asset Management Inc. purchased a new position in Starbucks during the 2nd quarter worth $1,289,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of Starbucks stock opened at $82.22 on Friday. The stock has a market cap of $93.46 billion, a PE ratio of 50.13, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The firm has a fifty day moving average price of $83.98 and a 200 day moving average price of $87.43. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.Starbucks’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, equities analysts expect 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. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Analyst Ratings Changes

SBUX has been the subject of a number of research analyst reports. BTIG Research reiterated a “buy” rating and issued a $105.00 price target on shares of Starbucks in a research note on Thursday, October 30th. Piper Sandler dropped their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Guggenheim raised their price target on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Sanford C. Bernstein set a $100.00 target price on Starbucks and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.