Advisors Asset Management Inc. Sells 45,573 Shares of Starbucks Corporation $SBUX

Key Points

• Advisors Asset Management Inc. reduced its holdings in Starbucks Corporation by 37.5%, leaving them with approximately 75,919 shares valued at $7.45 million.
• Starbucks reported a quarterly EPS of $0.50, missing analyst expectations of $0.64, while their revenue was $9.46 billion, slightly exceeding the expected $9.29 billion.
• Analyst ratings on Starbucks are generally positive, with a consensus rating of "Moderate Buy" and an average target price set at $104.40.

Advisors Asset Management Inc. lowered its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 37.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,919 shares of the coffee company's stock after selling 45,573 shares during the quarter. Advisors Asset Management Inc.'s holdings in Starbucks were worth $7,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Napa Wealth Management bought a new stake in Starbucks during the 1st quarter valued at approximately $1,435,000. Vanguard Capital Wealth Advisors bought a new stake in Starbucks during the 4th quarter valued at approximately $285,000. Czech National Bank raised its stake in Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after purchasing an additional 15,132 shares during the period. Personal CFO Solutions LLC raised its stake in Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after purchasing an additional 5,151 shares during the period. Finally, First Manhattan CO. LLC. raised its stake in Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock valued at $43,777,000 after purchasing an additional 111,015 shares during the period. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of Starbucks stock traded down $1.58 on Friday, reaching $85.43. The company had a trading volume of 9,037,892 shares, compared to its average volume of 7,728,275. The firm has a market cap of $97.11 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 5.09 and a beta of 1.00. The firm's 50-day moving average price is $91.54 and its two-hundred day moving average price is $91.83. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter last year, the firm posted $0.93 EPS. Starbucks's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.61 per share. The ex-dividend date was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.9%. Starbucks's payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SBUX. UBS Group lifted their target price on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. TD Securities restated a "hold" rating and set a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target for the company. in a report on Thursday, July 17th. Sanford C. Bernstein raised their price target on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, Citigroup cut their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

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.