Cypress Capital Group Sells 718 Shares of Starbucks Corporation $SBUX

Cypress Capital Group lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 23,436 shares of the coffee company’s stock after selling 718 shares during the quarter. Cypress Capital Group’s holdings in Starbucks were worth $2,147,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SBUX. Game Plan Financial Advisors LLC bought a new position in Starbucks during the 2nd quarter valued at about $25,000. Chelsea Counsel Co. bought a new position in Starbucks during the 2nd quarter valued at about $26,000. Hughes Financial Services LLC bought a new position in Starbucks during the 1st quarter valued at about $27,000. 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. Finally, McClarren Financial Advisors Inc. bought a new position in Starbucks during the 1st quarter valued at about $29,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.7%

NASDAQ SBUX opened at $78.46 on Monday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a market cap of $89.19 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 3.89 and a beta of 1.01. The company’s 50 day moving average is $86.48 and its two-hundred day moving average is $87.87.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period last year, the business earned $0.93 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business 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 dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.2%. Starbucks’s payout ratio is 105.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Stifel Nicolaus increased their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. TD Cowen lowered their price objective on shares of Starbucks from $88.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Loop Capital set a $165.00 price objective on shares of Starbucks in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.56.

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.