OVERSEA CHINESE BANKING Corp Ltd Reduces Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 89.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,975 shares of the coffee company's stock after selling 25,296 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Starbucks were worth $292,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors acquired a new stake in Starbucks in the fourth quarter valued at approximately $285,000. Czech National Bank lifted its stake in shares of Starbucks by 6.2% in the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after buying an additional 15,132 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in shares of Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after buying an additional 5,151 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Starbucks by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after buying an additional 3,130 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after buying an additional 784,432 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.70 during trading on Friday, hitting $93.89. The company had a trading volume of 1,876,638 shares, compared to its average volume of 10,752,676. Starbucks Corporation has a 12 month low of $72.73 and a 12 month high of $117.46. The stock has a 50 day simple moving average of $89.95 and a 200 day simple moving average of $94.54. The firm has a market capitalization of $106.69 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 4.74 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm 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 dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio is currently 88.41%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. TD Cowen restated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. Royal Bank Of Canada boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Evercore ISI restated an "outperform" rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Wells Fargo & Company reduced their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $98.58.

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.