Edmond DE Rothschild Holding S.A. Sells 17,405 Shares of Starbucks Corporation $SBUX

Key Points

• Edmond DE Rothschild Holding S.A. significantly reduced its stake in Starbucks (SBUX) by 96.9%, now holding only 550 shares after selling 17,405 shares in the first quarter.
• Several hedge funds, including Napa Wealth Management and Personal CFO Solutions LLC, have increased their holdings in Starbucks, highlighting strong institutional interest in the stock.
• Wall Street analysts have set a consensus price target of $104.40 for Starbucks shares, with a majority rating them as a "Moderate Buy."

Edmond DE Rothschild Holding S.A. lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 96.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 550 shares of the coffee company's stock after selling 17,405 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Starbucks were worth $54,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SBUX. Boothbay Fund Management LLC lifted its stake in shares of Starbucks by 289.0% in the first quarter. Boothbay Fund Management LLC now owns 102,126 shares of the coffee company's stock valued at $10,018,000 after buying an additional 75,874 shares during the period. Bwcp LP acquired a new stake in Starbucks in the first quarter valued at approximately $20,152,000. Banque Transatlantique SA increased its position in shares of Starbucks by 848.6% during the first quarter. Banque Transatlantique SA now owns 13,698 shares of the coffee company's stock worth $1,242,000 after acquiring an additional 12,254 shares in the last quarter. AQR Capital Management LLC grew its position in Starbucks by 47.2% in the 1st quarter. AQR Capital Management LLC now owns 138,167 shares of the coffee company's stock worth $13,330,000 after purchasing an additional 44,272 shares in the last quarter. Finally, Aprio Wealth Management LLC lifted its stake in Starbucks by 28.9% in the 1st quarter. Aprio Wealth Management LLC now owns 3,965 shares of the coffee company's stock worth $389,000 after purchasing an additional 888 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

NASDAQ:SBUX traded down $0.36 during trading hours on Tuesday, hitting $83.81. 8,621,881 shares of the company's stock traded hands, compared to its average volume of 7,764,335. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock's fifty day moving average price is $91.17 and its two-hundred day moving average price is $91.29. The firm has a market cap of $95.27 billion, a P/E ratio of 36.13, a P/E/G ratio of 5.01 and a beta of 1.00.

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

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, August 15th. Starbucks's dividend payout ratio (DPR) is 105.17%.

Wall Street Analyst Weigh In

SBUX has been the subject of several recent analyst reports. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Stifel Nicolaus upped their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. TD Securities reissued a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. Finally, CICC Research started coverage on shares of Starbucks in a research note on Monday, June 30th. They set an "outperform" rating and a $100.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.40.

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.