Financial Engines Advisors L.L.C. Sells 3,852 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Financial Engines Advisors L.L.C. has reduced its stake in Starbucks by 19.4%, now holding 15,999 shares worth approximately $1.57 million as of its latest SEC filing.
• Several institutional investors have increased their positions in Starbucks, with Brighton Jones LLC raising holdings by 86.5% to 176,722 shares, valued at $16.13 million.
• Starbucks declared a quarterly dividend of $0.61 per share, with the ex-dividend date set for August 15th, reflecting a payout ratio of 105.17%.

Financial Engines Advisors L.L.C. trimmed its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,999 shares of the coffee company's stock after selling 3,852 shares during the quarter. Financial Engines Advisors L.L.C.'s holdings in Starbucks were worth $1,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks during the first quarter worth approximately $27,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks during the first quarter worth approximately $29,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $41,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup decreased their price target on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $103.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Royal Bank Of Canada raised their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, CICC Research began coverage on shares of Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective on the stock. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of "Hold" and an average price target of $104.19.

Starbucks Trading Up 0.9%

SBUX traded up $0.81 during trading on Wednesday, hitting $94.18. The stock had a trading volume of 6,490,754 shares, compared to its average volume of 11,890,718. The firm has a market cap of $107.05 billion, a PE ratio of 40.60, a P/E/G ratio of 5.32 and a beta of 1.02. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a 50 day simple moving average of $92.65 and a 200-day simple moving average of $94.31.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the firm posted $0.93 EPS. The company's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.6%. Starbucks's payout ratio is 105.17%.

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.