AE Wealth Management LLC Sells 32,932 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• AE Wealth Management LLC has reduced its position in Starbucks Corporation by 46.9%, selling 32,932 shares, and now holds 37,274 shares valued at approximately $3.66 million.
• Several institutional investors have increased their holdings in Starbucks, with Capital World Investors boosting its stake by 20.1% in the fourth quarter.
• Starbucks recently announced a quarterly dividend of $0.61 per share, representing an annualized yield of 2.58% and a dividend payout ratio of 88.41%.

AE Wealth Management LLC decreased its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 46.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,274 shares of the coffee company's stock after selling 32,932 shares during the quarter. AE Wealth Management LLC's holdings in Starbucks were worth $3,656,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at about $27,000. Kapitalo Investimentos Ltda acquired a new stake in Starbucks during the 4th quarter worth approximately $32,000. Ball & Co Wealth Management Inc. acquired a new stake in Starbucks during the 4th quarter worth approximately $41,000. Finally, Accredited Wealth Management LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Trading Up 0.8%

Shares of SBUX stock traded up $0.72 during trading hours on Friday, reaching $94.42. The stock had a trading volume of 7,219,553 shares, compared to its average volume of 7,933,794. The stock's fifty day simple moving average is $91.05 and its 200 day simple moving average is $94.65. Starbucks Corporation has a 12 month low of $72.72 and a 12 month high of $117.46. The firm has a market capitalization of $107.30 billion, a PE ratio of 34.21, a PEG ratio of 6.55 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company's revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SBUX shares. Stifel Nicolaus increased their price objective on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. TD Securities reissued a "hold" rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Guggenheim reduced their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. TD Cowen reissued a "hold" rating and issued a $90.00 price target on shares of Starbucks in a report on Thursday, May 29th. Finally, Cowen reissued a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks has a consensus rating of "Hold" and an average price target of $98.58.

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.