Avanza Fonder AB Sells 18,868 Shares of Starbucks Corporation $SBUX

Key Points

• Avanza Fonder AB reduced its stake in Starbucks by 20.9%, selling 18,868 shares to hold 71,288 shares valued at approximately $6.53 million.
• Starbucks reported a quarterly EPS of $0.50, missing earnings estimates, while its revenue increased to $9.46 billion, surpassing expectations.
• The company declared a quarterly dividend of $0.61, with a payout ratio of 105.17% and an annualized yield of 2.9% as of the recent announcement.

Avanza Fonder AB reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 20.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,288 shares of the coffee company's stock after selling 18,868 shares during the period. Avanza Fonder AB's holdings in Starbucks were worth $6,532,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Starbucks by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock worth $10,991,923,000 after purchasing an additional 953,361 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the last quarter. Nuveen LLC acquired a new position in Starbucks in the first quarter valued at approximately $1,379,619,000. Goldman Sachs Group Inc. lifted its holdings in Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after acquiring an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Starbucks in the first quarter valued at approximately $817,759,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of Starbucks stock traded up $0.53 during trading on Tuesday, reaching $85.82. The company had a trading volume of 6,152,913 shares, compared to its average volume of 10,281,149. The company has a market cap of $97.55 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 5.05 and a beta of 1.00. The firm's fifty day moving average is $89.17 and its 200-day moving average is $89.33. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two 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 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 EPS. On average, research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent analyst reports. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 17th. Barclays upped their price objective on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. UBS Group boosted their target price on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Stifel Nicolaus boosted their target price on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Citigroup cut their target price on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $104.40.

Starbucks 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.