RWA Wealth Partners LLC Sells 10,501 Shares of Starbucks Corporation $SBUX

Key Points

• RWA Wealth Partners LLC has reduced its holdings in Starbucks Corporation by 30.4%, selling 10,501 shares, and now owns 24,074 shares valued at approximately $2,361,000.
• Starbucks reported a missed earnings estimate of $0.50 per share for the quarter, below the consensus estimate of $0.64, although revenue was up 3.8% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.61 per share, with a payout ratio of 105.17%, reflecting a yield of 2.6% for shareholders of record on August 15.

RWA Wealth Partners LLC trimmed its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 30.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,074 shares of the coffee company's stock after selling 10,501 shares during the period. RWA Wealth Partners LLC's holdings in Starbucks were worth $2,361,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SBUX. Brighton Jones LLC lifted its position in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after buying an additional 81,952 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Starbucks by 15.9% in the fourth quarter. First Trust Advisors LP now owns 840,382 shares of the coffee company's stock valued at $76,685,000 after buying an additional 115,133 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Starbucks by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,789,245 shares of the coffee company's stock valued at $254,502,000 after buying an additional 99,839 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Starbucks by 90.5% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 59,124 shares of the coffee company's stock valued at $5,395,000 after buying an additional 28,083 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $8,262,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SBUX. TD Securities reiterated a "hold" rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 17th. Evercore ISI reiterated an "outperform" rating and set a $105.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Citigroup lowered their target price on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada increased their target price on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Starbucks presently has an average rating of "Hold" and an average target price of $103.65.

Starbucks Stock Up 2.1%

NASDAQ SBUX opened at $92.54 on Tuesday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a market cap of $105.19 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 5.32 and a beta of 1.02. The business's fifty day moving average is $92.83 and its 200 day moving average is $93.88.

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

Starbucks Dividend Announcement

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