Nations Financial Group Inc. IA ADV Sells 6,596 Shares of Starbucks Corporation $SBUX

Key Points

• Nations Financial Group Inc. IA ADV reduced its Starbucks holdings by 16.9%, now owning 32,508 shares valued at approximately $3.19 million.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing analysts' estimates of $0.64, despite a year-over-year revenue increase of 3.8%.
• The company declared a quarterly dividend of $0.61 per share, with an annualized yield of 2.6% and a payout ratio of 105.17%.

Nations Financial Group Inc. IA ADV cut its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 16.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,508 shares of the coffee company's stock after selling 6,596 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in Starbucks were worth $3,189,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Starbucks by 86.5% in the 4th 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 period. Federated Hermes Inc. grew its stake in Starbucks by 6.2% in the fourth quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company's stock valued at $486,000 after purchasing an additional 311 shares during the last quarter. CreativeOne Wealth LLC grew its stake in Starbucks by 2.0% in the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the coffee company's stock valued at $927,000 after purchasing an additional 196 shares during the last quarter. XTX Topco Ltd acquired a new stake in Starbucks in the fourth quarter worth about $581,000. Finally, Gamco Investors INC. ET AL boosted its holdings in Starbucks by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after acquiring an additional 97 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBUX. Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. TD Securities reiterated a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. Piper Sandler set a $105.00 price target on Starbucks and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. BMO Capital Markets restated an "outperform" rating and issued a $115.00 target price (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, Bank of America upped their price target on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $103.65.

Starbucks Trading Up 2.1%

Shares of NASDAQ:SBUX traded up $1.94 on Monday, reaching $92.54. 7,373,523 shares of the company's stock were exchanged, compared to its average volume of 12,063,601. The company has a fifty day moving average of $92.83 and a 200-day moving average of $93.88. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a market capitalization of $105.19 billion, a price-to-earnings ratio of 39.89, a PEG ratio of 5.32 and a beta of 1.02.

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). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. As a group, equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is presently 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.