Mutual of America Capital Management LLC Sells 3,687 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Mutual of America Capital Management LLC reduced its stake in Starbucks Corporation by 2.7% during the first quarter, now holding 132,180 shares valued at approximately $12.97 million.
• Wall Street analysts maintain a consensus rating of "Hold" on Starbucks, with target prices ranging from $95.00 to $115.00, reflecting a cautious outlook amid varied analyst evaluations.
• Starbucks announced a quarterly dividend of $0.61 per share, leading to an annualized yield of 2.7%, despite a high dividend payout ratio of 105.17%.

Mutual of America Capital Management LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,180 shares of the coffee company's stock after selling 3,687 shares during the quarter. Mutual of America Capital Management LLC's holdings in Starbucks were worth $12,966,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks in the fourth quarter valued at $25,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks during the fourth quarter valued at $32,000. Ball & Co Wealth Management Inc. purchased a new position in shares of Starbucks in the 4th quarter worth about $41,000. Accredited Wealth Management LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $44,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Starbucks by 97.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 493 shares of the coffee company's stock worth $48,000 after purchasing an additional 243 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SBUX shares. Royal Bank Of Canada lifted their price target on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Cowen reaffirmed a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Bank of America lifted their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. BMO Capital Markets reiterated an "outperform" rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Finally, Sanford C. Bernstein lifted their target price on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Hold" and an average target price of $101.27.

Starbucks Trading Up 1.2%

Shares of NASDAQ:SBUX traded up $1.10 during midday trading on Friday, hitting $92.12. The company had a trading volume of 8,032,266 shares, compared to its average volume of 11,577,803. Starbucks Corporation has a 12 month low of $74.75 and a 12 month high of $117.46. The stock has a market cap of $104.71 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 5.19 and a beta of 1.02. The firm has a fifty day simple moving average of $92.27 and a 200 day simple moving average of $94.41.

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

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders 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 annualized dividend and a dividend yield of 2.6%. Starbucks's dividend payout ratio (DPR) is currently 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.