Focus Partners Wealth Sells 18,311 Shares of Starbucks Corporation $SBUX

Key Points

• Focus Partners Wealth reduced its stake in Starbucks Corporation by 1.9%, selling 18,311 shares, while still holding 939,040 shares valued at approximately $92.11 million.
• Starbucks reported earnings per share of $0.50 in the last quarter, missing estimates by $0.14, though revenue of $9.46 billion exceeded expectations.
• The company's recent quarterly dividend of $0.61 reflects an annualized dividend yield of 2.9%, although the dividend payout ratio is notably high at 105.17%.

Focus Partners Wealth lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 939,040 shares of the coffee company's stock after selling 18,311 shares during the period. Focus Partners Wealth owned approximately 0.08% of Starbucks worth $92,110,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SBUX. Vanguard Group Inc. boosted its stake in Starbucks by 0.9% in 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 period. Wellington Management Group LLP lifted its position 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 worth $1,904,366,000 after buying an additional 3,545,655 shares during the last quarter. Nuveen LLC bought a new stake in Starbucks in the first quarter worth $1,379,619,000. Goldman Sachs Group Inc. lifted its position in shares of Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Starbucks in the first quarter worth about $817,759,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $83.81 on Wednesday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm has a market capitalization of $95.27 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 5.01 and a beta of 1.00. The stock's 50-day simple moving average is $91.17 and its 200-day simple moving average is $91.29.

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 net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter last year, the business posted $0.93 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. CICC Research assumed coverage on Starbucks in a research note on Monday, June 30th. They set an "outperform" rating and a $100.00 price target on the stock. Sanford C. Bernstein boosted their price target on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Citigroup dropped their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. TD Cowen boosted their price target on Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $103.00 price target (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Starbucks has an average rating of "Moderate Buy" and an average target price 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.

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