Invst LLC Cuts Position in Starbucks Corporation $SBUX

Key Points

• Invst LLC significantly reduced its stake in Starbucks Corporation by 80.1% to hold just 4,012 shares, valued at approximately $394,000 as of the latest SEC disclosure.
• Other institutional investors, such as Brighton Jones LLC and Toronto Dominion Bank, have increased their positions in Starbucks, revealing a mixed sentiment as overall institutional ownership stands at 72.29%.
• Starbucks recently announced a quarterly dividend of $0.61 per share, contributing to an annualized payout of $2.44 and a dividend yield of 3.0%, despite a payout ratio of 105.17%.

Invst LLC cut its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 80.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,012 shares of the coffee company's stock after selling 16,148 shares during the period. Invst LLC's holdings in Starbucks were worth $394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in Starbucks in the fourth quarter worth $710,000. Steadfast Capital Management LP bought a new stake in Starbucks in the fourth quarter worth $211,970,000. Toronto Dominion Bank lifted its stake in Starbucks by 629.5% in the fourth quarter. Toronto Dominion Bank now owns 3,190,114 shares of the coffee company's stock worth $291,097,000 after purchasing an additional 2,752,809 shares during the last quarter. Finally, Strive Asset Management LLC bought a new stake in Starbucks in the fourth quarter worth $284,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. TD Securities reissued a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Sanford C. Bernstein upped their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. UBS Group upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, 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. One 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $104.40.

Starbucks Price Performance

SBUX stock opened at $81.90 on Friday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a market cap of $93.10 billion, a P/E ratio of 35.30, a PEG ratio of 4.92 and a beta of 1.00. The firm has a 50-day moving average of $90.45 and a 200 day moving average of $90.64.

Starbucks (NASDAQ:SBUX - Get Free Report) last released 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate 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, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

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.

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.