MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 9,318 Shares of Starbucks Corporation $SBUX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Starbucks by 1.0%, selling 9,318 shares and now owns 957,143 shares, valued at approximately $93,886,000.
• Starbucks announced a quarterly dividend of $0.61 per share, resulting in an annualized dividend of $2.44 and a yield of 2.9%.
• Despite a miss in EPS estimates for the last quarter, Starbucks' revenue increased by 3.8% year-over-year, indicating strong underlying business performance.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 957,143 shares of the coffee company's stock after selling 9,318 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of Starbucks worth $93,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. TrinityPoint Wealth LLC lifted its position in shares of Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after buying an additional 89 shares in the last quarter. Benin Management CORP raised its holdings in shares of Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock worth $1,626,000 after purchasing an additional 120 shares during the period. Ted Buchan & Co raised its holdings in shares of Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock worth $791,000 after purchasing an additional 120 shares during the period. Alexander Labrunerie & CO. Inc. raised its holdings in shares of Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock worth $349,000 after purchasing an additional 122 shares during the period. Finally, Guardian Wealth Advisors LLC NC raised its holdings in shares of Starbucks by 2.3% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 5,388 shares of the coffee company's stock worth $492,000 after purchasing an additional 123 shares during the period. Institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research reports. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Royal Bank Of Canada lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Cowen reaffirmed a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, 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 report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks Price Performance

Shares of SBUX stock opened at $85.43 on Friday. The company's fifty day simple moving average is $91.54 and its two-hundred day simple moving average is $91.83. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a market capitalization of $97.11 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 5.18 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its 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 net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the previous year, the firm earned $0.93 EPS. The company's revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

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

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.

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