Los Angeles Capital Management LLC Reduces Stock Position in Starbucks Corporation $SBUX

Los Angeles Capital Management LLC lowered its stake in Starbucks Corporation (NASDAQ:SBUX) by 79.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,681 shares of the coffee company’s stock after selling 77,709 shares during the period. Los Angeles Capital Management LLC’s holdings in Starbucks were worth $1,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. Chelsea Counsel Co. purchased a new position in shares of Starbucks in the second quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its stake 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 during the period. McClarren Financial Advisors Inc. purchased a new stake in Starbucks during the 1st quarter valued at $29,000. Finally, Nova Wealth Management Inc. boosted its position in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after purchasing an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 2.2%

Starbucks stock opened at $86.42 on Wednesday. The company has a market cap of $98.23 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The company’s 50-day moving average price is $83.79 and its 200-day moving average price is $87.56. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 business had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.Starbucks’s revenue 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, sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share 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 given a dividend of $0.62 per share. The ex-dividend date of this dividend 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 is currently 151.22%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group set a $94.00 price objective on Starbucks and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Guggenheim boosted their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. BTIG Research reaffirmed a “buy” rating and set a $105.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Sanford C. Bernstein set a $100.00 price objective on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Bank of America raised their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.