LRI Investments LLC Cuts Stake in Starbucks Corporation $SBUX

LRI Investments LLC reduced its position in Starbucks Corporation (NASDAQ:SBUX) by 57.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 779 shares of the coffee company’s stock after selling 1,061 shares during the quarter. LRI Investments LLC’s holdings in Starbucks were worth $71,000 at the end of the most recent reporting period.

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

Starbucks Price Performance

NASDAQ SBUX opened at $80.03 on Tuesday. The company has a market capitalization of $90.97 billion, a PE ratio of 34.50, a P/E/G ratio of 3.89 and a beta of 1.01. The company has a fifty day moving average of $86.29 and a 200 day moving average of $87.75. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion for 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%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. 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 3.1%. Starbucks’s dividend payout ratio is presently 105.17%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SBUX shares. Barclays lifted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Cowen reiterated a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. Bank of America lifted their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Citigroup lowered their price objective on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. One investment 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 given a Sell rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $102.96.

About Starbucks

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.