First Eagle Investment Management LLC Cuts Stock Position in Starbucks Corporation $SBUX

First Eagle Investment Management LLC cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 46.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,998 shares of the coffee company’s stock after selling 22,998 shares during the quarter. First Eagle Investment Management LLC’s holdings in Starbucks were worth $2,382,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SBUX. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks in the second quarter valued at about $25,000. Chelsea Counsel Co. purchased a new position in Starbucks during the second quarter worth about $26,000. Hughes Financial Services LLC acquired a new stake in Starbucks in the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in Starbucks in the 1st quarter valued at approximately $29,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $85.57 on Friday. The business has a 50-day moving average of $83.92 and a two-hundred day moving average of $87.50. The firm has a market capitalization of $97.27 billion, a PE ratio of 52.18, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

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 for 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 firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

Analyst Ratings Changes

Several research firms have recently commented on SBUX. Royal Bank Of Canada set a $100.00 price target on Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. TD Cowen reiterated a “hold” rating and issued a $84.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. Guggenheim raised their price objective on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.50.

Starbucks Company 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.