Ameriprise Financial Inc. Has $283.40 Million Position in Starbucks Corporation $SBUX

Key Points

• Ameriprise Financial Inc. has reduced its stake in Starbucks Corporation by 5.7%, now holding 2,887,943 shares valued at approximately $283.40 million.
• Various institutional investors are actively trading Starbucks shares, resulting in significant changes in holdings, with institutions owning 72.29% of the company's stock.
• Starbucks announced a quarterly dividend of $0.61 per share, reflecting a 2.8% yield and a high payout ratio of 105.17%.

Ameriprise Financial Inc. lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,887,943 shares of the coffee company's stock after selling 173,942 shares during the quarter. Ameriprise Financial Inc. owned 0.25% of Starbucks worth $283,398,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Capital Wealth Advisors acquired a new position in Starbucks during the fourth quarter valued at approximately $285,000. Czech National Bank grew its holdings in Starbucks by 6.2% during the first 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 grew its holdings in Starbucks by 125.5% during the first 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. Norden Group LLC grew its holdings in Starbucks by 66.1% during the first quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock valued at $2,964,000 after purchasing an additional 12,027 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Starbucks during the first quarter valued at approximately $998,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Sanford C. Bernstein increased their price objective on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. CICC Research assumed coverage on shares of Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective for the company. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird raised 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 report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Trading Down 0.2%

Shares of SBUX opened at $88.38 on Friday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a fifty day simple moving average of $92.49 and a 200 day simple moving average of $93.54. The stock has a market capitalization of $100.46 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 5.26 and a beta of 1.02.

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 the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.8%. Starbucks's dividend payout ratio is presently 105.17%.

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.

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