Baird Financial Group Inc. Has $115.11 Million Stock Holdings in Starbucks Corporation $SBUX

Baird Financial Group Inc. trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,256,252 shares of the coffee company’s stock after selling 92,211 shares during the quarter. Baird Financial Group Inc. owned 0.11% of Starbucks worth $115,110,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SBUX. Alliance Wealth Advisors LLC raised its position in Starbucks by 2.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after purchasing an additional 108 shares during the last quarter. Cooper Haims Advisors LLC grew its position in shares of Starbucks by 3.0% in the 2nd quarter. Cooper Haims Advisors LLC now owns 3,749 shares of the coffee company’s stock valued at $344,000 after buying an additional 110 shares during the last quarter. Brown Lisle Cummings Inc. increased its stake in shares of Starbucks by 1.4% in the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after buying an additional 117 shares during the period. Diligent Investors LLC raised its position in shares of Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after acquiring an additional 117 shares during the last quarter. Finally, Ted Buchan & Co raised its position in shares of Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 2.2%

NASDAQ SBUX opened at $87.11 on Thursday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The business has a 50 day moving average price of $84.10 and a 200-day moving average price of $87.70. The company has a market cap of $99.05 billion, a price-to-earnings ratio of 53.12, a P/E/G ratio of 1.71 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.8%. Starbucks’s payout ratio is presently 151.22%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SBUX shares. Dbs Bank downgraded shares of Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. TD Cowen reiterated a “hold” rating and set a $84.00 price objective on shares of Starbucks in a research report on Monday. Citigroup dropped their target price on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Mizuho raised shares of Starbucks to a “hold” rating in a research report on Tuesday, October 28th. Finally, Sanford C. Bernstein set a $100.00 price objective on Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the transaction, the director owned 53,096 shares in the company, valued at $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

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.