Starbucks Corporation $SBUX Stake Reduced by Callahan Advisors LLC

by · The Cerbat Gem

Callahan Advisors LLC cut its stake in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 43.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,023 shares of the coffee company’s stock after selling 13,605 shares during the period. Callahan Advisors LLC’s holdings in Starbucks were worth $1,651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Game Plan Financial Advisors LLC bought a new stake in Starbucks in the 2nd quarter valued at about $25,000. Chelsea Counsel Co. bought a new position in Starbucks in the 2nd quarter worth about $26,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its holdings 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 valued at $28,000 after buying an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Bank of America raised their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Stifel Nicolaus raised their price target on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. TD Cowen decreased their target price on shares of Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, October 10th. Finally, Royal Bank Of Canada raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.96.

Get Our Latest Stock Analysis on Starbucks

Starbucks Stock Up 2.1%

NASDAQ:SBUX opened at $82.86 on Thursday. The business’s 50-day moving average price is $85.99 and its 200 day moving average price is $87.67. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market cap of $94.19 billion, a P/E ratio of 35.72, a PEG ratio of 4.01 and a beta of 1.01.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. Sell-side analysts expect 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 dividend of $0.62 per share. The ex-dividend date 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 3.0%. Starbucks’s payout ratio is 105.17%.

About Starbucks

(Free Report)

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.

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