Starbucks Corporation $SBUX Shares Sold by Promethium Advisors LLC

Key Points

• Promethium Advisors LLC has significantly reduced its holdings in Starbucks, selling 11,209 shares and decreasing its stake by 74.6%, leaving it with just 3,826 shares valued at $375,000.
• Starbucks reported earnings of $0.50 per share for the last quarter, falling short of analyst expectations, while revenue increased by 3.8% year-over-year, totaling $9.46 billion.
• A quarterly dividend of $0.61 was recently paid to shareholders, representing a dividend yield of 2.8%, although the company's dividend payout ratio stands at a high 105.17%.

Promethium Advisors LLC lowered its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 74.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,826 shares of the coffee company's stock after selling 11,209 shares during the period. Promethium Advisors LLC's holdings in Starbucks were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SBUX. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after acquiring an additional 81,952 shares in the last quarter. Aptus Capital Advisors LLC raised its position in shares of Starbucks by 39.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 18,356 shares of the coffee company's stock worth $1,675,000 after acquiring an additional 5,171 shares in the last quarter. BIP Wealth LLC raised its position in shares of Starbucks by 25.4% during the 4th quarter. BIP Wealth LLC now owns 2,711 shares of the coffee company's stock worth $247,000 after acquiring an additional 549 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Starbucks during the 4th quarter worth about $131,000. Finally, Chapman Financial Group LLC acquired a new position in Starbucks during the fourth quarter worth approximately $1,154,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research analyst reports. 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. Loop Capital set a $165.00 target price on Starbucks in a research note on Tuesday, August 12th. TD Cowen lifted their target price on Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Bank of America lifted their target price on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Sanford C. Bernstein lifted their target price on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Price Performance

SBUX traded down $1.58 during trading on Friday, reaching $85.43. 9,037,892 shares of the stock were exchanged, compared to its average volume of 7,728,275. The business's 50 day moving average price is $91.54 and its two-hundred day moving average price is $91.83. The company has a market capitalization of $97.11 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 5.18 and a beta of 1.00. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. On average, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

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