Ameritas Advisory Services LLC Has $1.52 Million Holdings in Starbucks Corporation $SBUX

Key Points

• Ameritas Advisory Services LLC reduced its holdings in Starbucks Corporation by 20% in Q2, owning 16,602 shares valued at $1.52 million following the sale of 4,159 shares.
• Several large investors, including Nuveen LLC and Goldman Sachs, have made significant new investments in Starbucks, contributing to a substantial institutional ownership of 72.29% of the stock.
• Starbucks recently announced a quarterly dividend increase to $0.62 per share, representing an annualized dividend of $2.48, with a dividend yield of 2.9%.

Ameritas Advisory Services LLC reduced its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 20.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,602 shares of the coffee company's stock after selling 4,159 shares during the period. Ameritas Advisory Services LLC's holdings in Starbucks were worth $1,521,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Nuveen LLC acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $1,379,619,000. Jennison Associates LLC acquired a new stake in Starbucks in the first quarter worth $817,759,000. Polen Capital Management LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at about $503,539,000. Goldman Sachs Group Inc. grew its stake in shares of Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after buying an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after buying an additional 3,545,655 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research reports. TD Securities reissued a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. Guggenheim lifted their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. CICC Research initiated coverage on shares of Starbucks in a research report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price target for the company. BMO Capital Markets reiterated an "outperform" rating and set a $115.00 price objective (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, BTIG Research set a $105.00 price objective on shares of Starbucks in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.00.

Starbucks Stock Performance

Shares of SBUX opened at $86.42 on Friday. The stock's 50-day simple moving average is $87.56 and its 200 day simple moving average is $88.53. The stock has a market capitalization of $98.23 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results 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 negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks's dividend payout ratio (DPR) is 105.17%.

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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.