Starbucks Corporation $SBUX Stake Lessened by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Starbucks Corporation by 41.3%, selling 108,800 shares and leaving it with 154,495 shares valued at approximately $15.15 million.
• Starbucks experienced a net margin of 7.18% and reported earnings per share of $0.50 for the most recent quarter, falling short of analysts' expectations of $0.64.
• Starbucks declared a quarterly dividend of $0.61, with a yield of 2.6%, though its payout ratio is notably high at 105.17%.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 41.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 154,495 shares of the coffee company's stock after selling 108,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Starbucks were worth $15,154,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks in the fourth quarter valued at about $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks during the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. bought a new position in Starbucks during the 1st quarter worth $29,000. Kapitalo Investimentos Ltda bought a new position in shares of Starbucks in the 4th quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in Starbucks during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Price Performance

SBUX stock traded down $1.3550 during midday trading on Tuesday, hitting $91.1850. 3,551,621 shares of the stock traded hands, compared to its average volume of 10,502,497. The firm has a market cap of $103.65 billion, a P/E ratio of 39.27, a PEG ratio of 5.32 and a beta of 1.02. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The stock's fifty day simple moving average is $92.83 and its 200-day simple moving average is $93.88.

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 the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the previous year, the company earned $0.93 earnings per share. Starbucks's quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio is presently 105.17%.

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. Piper Sandler set a $105.00 price target on Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Loop Capital set a $165.00 price objective on Starbucks in a research report on Tuesday, August 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $103.00 price objective (up from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Barclays raised their price target on shares of Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.65.

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.