Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd has reduced its stake in Starbucks by 22.9%, selling 27,587 shares to hold a total of 92,765 shares valued at approximately $9.07 million.
• Starbucks reported earnings of $0.41 per share for the last quarter, which missed estimates by $0.10, with revenues of $8.76 billion falling short of forecasts of $8.90 billion.
• The company announced a quarterly dividend of $0.61 per share, representing an annual yield of 2.58%, with a payout date set for August 29th.

Mediolanum International Funds Ltd lessened its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 22.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 92,765 shares of the coffee company's stock after selling 27,587 shares during the period. Mediolanum International Funds Ltd's holdings in Starbucks were worth $9,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors boosted its position in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares in the last quarter. FMR LLC boosted its position in Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC boosted its position in Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after acquiring an additional 548,245 shares in the last quarter. Wellington Management Group LLP lifted its position in Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after acquiring an additional 718,880 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Starbucks by 4.6% during the fourth quarter. Northern Trust Corp now owns 13,573,337 shares of the coffee company's stock valued at $1,238,567,000 after acquiring an additional 600,151 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 0.2%

Starbucks stock traded up $0.14 during midday trading on Wednesday, hitting $93.10. 25,126,841 shares of the stock were exchanged, compared to its average volume of 10,443,914. Starbucks Corporation has a fifty-two week low of $72.72 and a fifty-two week high of $117.46. The stock has a market capitalization of $105.80 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 6.48 and a beta of 1.02. The stock's 50-day simple moving average is $91.38 and its 200 day simple moving average is $94.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the previous year, the business posted $0.93 EPS. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.62%. Starbucks's dividend payout ratio is currently 88.41%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday. Guggenheim decreased their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. TD Securities reissued a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Sanford C. Bernstein increased their target price on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley increased their target price on shares of Starbucks from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and an average price target of $100.12.

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.