BI Asset Management Fondsmaeglerselskab A S Has $3.87 Million Holdings in Starbucks Corporation $SBUX

Key Points

• BI Asset Management reduced its stake in Starbucks by 33.3%, holding $3.87 million worth of shares after selling 19,666 shares in the first quarter.
• Starbucks reported earnings of $0.50 per share, falling short of analysts' expectations of $0.64, while quarterly revenue increased by 3.8% year-over-year.
• The company announced a quarterly dividend of $0.61 per share, with a payout ratio currently at 105.17%, indicating potential challenges in sustaining high dividend payouts.

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,458 shares of the coffee company's stock after selling 19,666 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Starbucks were worth $3,870,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Capital Wealth Advisors bought a new position in Starbucks during the fourth quarter valued at about $285,000. Czech National Bank grew its holdings in shares of Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after purchasing an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC increased its position in shares of 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 increased its position in shares of 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. bought a new position in Starbucks in the first quarter worth $998,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of SBUX opened at $89.51 on Thursday. The company has a market cap of $101.75 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 5.34 and a beta of 1.02. The stock has a fifty day moving average price of $92.70 and a two-hundred day moving average price of $93.83. 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 earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the business posted $0.93 earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SBUX shares. Cowen reissued a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada upped their price objective on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus increased their target price on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.40.

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.

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