Gulf International Bank UK Ltd Trims Stake in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Starbucks Corporation by 26.5%, selling 23,730 shares during the first quarter, resulting in holdings worth approximately $6.47 million.
• Institutional investor activity has increased, with Vanguard Capital Wealth Advisors and Personal CFO Solutions LLC making significant new investments in Starbucks.
• Starbucks' recent earnings report showed an EPS of $0.50, missing estimates, while the company announced a quarterly dividend of $0.61, with an annual yield of 2.6%.

Gulf International Bank UK Ltd lowered its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 26.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,980 shares of the coffee company's stock after selling 23,730 shares during the quarter. Gulf International Bank UK Ltd's holdings in Starbucks were worth $6,471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Capital Wealth Advisors bought a new position in Starbucks during the 4th quarter worth about $285,000. Czech National Bank grew its holdings in Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after acquiring an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after acquiring an additional 5,151 shares in the last quarter. Norden Group LLC grew its holdings in Starbucks by 66.1% during the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after acquiring an additional 12,027 shares in the last quarter. Finally, Graybill Wealth Management LTD. bought a new position in Starbucks during the 1st quarter worth about $4,314,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on SBUX shares. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. UBS Group raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Guggenheim raised their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Morgan Stanley restated 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. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of "Hold" and an average price target of $104.19.

Starbucks Stock Up 1.8%

NASDAQ SBUX opened at $93.37 on Wednesday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The business's fifty day simple moving average is $92.53 and its 200-day simple moving average is $94.31. The firm has a market cap of $106.13 billion, a PE ratio of 40.25, a P/E/G ratio of 5.23 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for 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%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. Research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

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

Starbucks Company 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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.