Starbucks Corporation $SBUX Stock Position Reduced by HBW Advisory Services LLC

Key Points

• HBW Advisory Services LLC reduced its stake in Starbucks Corporation by 78.1%, selling 24,324 shares and holding only 6,804 shares worth approximately $623,000 at the end of the most recent quarter.
• Starbucks reported earnings of $0.50 EPS for the latest quarter, missing analyst estimates, with revenues of $9.46 billion, reflecting a 3.8% year-over-year increase.
• The company recently paid a quarterly dividend of $0.61 with a dividend yield of 3.0%, despite having a payout ratio of 105.17%.

HBW Advisory Services LLC reduced its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 78.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,804 shares of the coffee company's stock after selling 24,324 shares during the quarter. HBW Advisory Services LLC's holdings in Starbucks were worth $623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Starbucks in the fourth quarter valued at $25,000. Hughes Financial Services LLC acquired a new position in Starbucks in the first quarter valued at $27,000. CBIZ Investment Advisory Services LLC increased its stake in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in Starbucks in the first quarter valued at $29,000. Finally, Nova Wealth Management Inc. increased its stake in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock valued at $31,000 after purchasing an additional 234 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

SBUX traded up $0.63 on Friday, reaching $84.05. The company's stock had a trading volume of 4,036,516 shares, compared to its average volume of 10,254,928. The stock has a market cap of $95.53 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 4.97 and a beta of 1.00. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The business's 50 day moving average is $89.54 and its 200 day moving average is $89.93.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 EPS. As a group, research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Baird R W upgraded Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Bank of America upped their target price on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, July 18th. TD Cowen upped their target price on Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, 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 for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus 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.