Apollon Wealth Management LLC Sells 6,707 Shares of Starbucks Corporation (NASDAQ:SBUX)

Apollon Wealth Management LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 13.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,499 shares of the coffee company's stock after selling 6,707 shares during the period. Apollon Wealth Management LLC's holdings in Starbucks were worth $4,071,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SBUX. Hohimer Wealth Management LLC boosted its position in shares of Starbucks by 2.4% in the first quarter. Hohimer Wealth Management LLC now owns 6,293 shares of the coffee company's stock worth $617,000 after acquiring an additional 150 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Starbucks by 7.7% in the first quarter. Catalyst Financial Partners LLC now owns 5,698 shares of the coffee company's stock worth $559,000 after acquiring an additional 406 shares during the last quarter. Signaturefd LLC boosted its position in shares of Starbucks by 8.2% in the first quarter. Signaturefd LLC now owns 25,024 shares of the coffee company's stock worth $2,455,000 after acquiring an additional 1,899 shares during the last quarter. Leelyn Smith LLC boosted its position in shares of Starbucks by 2.1% in the first quarter. Leelyn Smith LLC now owns 45,201 shares of the coffee company's stock worth $4,434,000 after acquiring an additional 949 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Starbucks in the first quarter worth approximately $2,425,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SBUX shares. Evercore ISI restated an "outperform" rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. TD Cowen reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. Barclays dropped their price objective on shares of Starbucks from $108.00 to $106.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, CICC Research assumed coverage on shares of Starbucks in a research note on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $98.58.

Starbucks Price Performance

NASDAQ:SBUX traded up $0.53 during trading hours on Friday, reaching $93.72. 3,333,826 shares of the stock were exchanged, compared to its average volume of 10,758,213. Starbucks Corporation has a twelve month low of $72.73 and a twelve month high of $117.46. The firm has a 50 day moving average of $89.95 and a 200 day moving average of $94.54. The stock has a market cap of $106.50 billion, a PE ratio of 33.97, a PEG ratio of 4.74 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results 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 net margin of 8.61% and a negative return on equity of 42.14%. The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.60%. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

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.