Forsta AP Fonden Has $24.82 Million Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Forsta AP Fonden reduced its stake in Starbucks Corporation by 12.1% in Q1, currently holding 253,000 shares valued at approximately $24.82 million.
• Starbucks reported earnings per share of $0.50 for the last quarter, missing estimates by $0.14, while revenue increased by 3.8% year-over-year to $9.46 billion.
• The company declared a quarterly $0.61 dividend, with a yield of 2.7% and a payout ratio of 105.17%.

Forsta AP Fonden reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 12.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,000 shares of the coffee company's stock after selling 34,900 shares during the period. Forsta AP Fonden's holdings in Starbucks were worth $24,817,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. TrinityPoint Wealth LLC lifted its position in shares of Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after purchasing an additional 89 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Starbucks by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after purchasing an additional 97 shares in the last quarter. Foster Dykema Cabot & Partners LLC lifted its position in shares of Starbucks by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock worth $93,000 after purchasing an additional 97 shares in the last quarter. Taurus Asset Management LLC increased its stake in shares of Starbucks by 0.5% in the fourth quarter. Taurus Asset Management LLC now owns 21,895 shares of the coffee company's stock worth $1,998,000 after buying an additional 100 shares during the last quarter. Finally, Mendel Capital Management LLC increased its stake in shares of Starbucks by 1.8% in the fourth quarter. Mendel Capital Management LLC now owns 5,721 shares of the coffee company's stock worth $522,000 after buying an additional 101 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 1.2%

SBUX stock traded up $1.10 during mid-day trading on Friday, reaching $92.12. 8,032,266 shares of the stock traded hands, compared to its average volume of 11,577,803. Starbucks Corporation has a 52-week low of $74.75 and a 52-week high of $117.46. The company has a market cap of $104.71 billion, a P/E ratio of 39.71, a P/E/G ratio of 5.25 and a beta of 1.02. The stock's fifty day moving average is $92.27 and its 200-day moving average is $94.39.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly 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 analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. Starbucks's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. Equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

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

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Sanford C. Bernstein lifted their price target on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Guggenheim boosted their target price on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. CICC Research initiated coverage on shares of Starbucks in a research note on Monday, June 30th. They set an "outperform" rating and a $100.00 target price for the company. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $101.27.

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.