Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Starbucks, selling 5,570 shares to hold a total of 112,309 shares worth approximately $11 million, marking a 4.7% decrease in their position.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing analyst expectations of $0.64, but achieved a revenue of $9.46 billion, surpassing estimates of $9.29 billion.
• The company declared a quarterly dividend of $0.61 to be paid on August 29, with a current dividend yield of 2.6%, although the payout ratio stands at 105.17%.

Azimuth Capital Investment Management LLC cut its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,309 shares of the coffee company's stock after selling 5,570 shares during the period. Azimuth Capital Investment Management LLC's holdings in Starbucks were worth $11,016,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SBUX. Vanguard Capital Wealth Advisors purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $285,000. Czech National Bank grew its holdings 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 valued at $25,591,000 after purchasing an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after acquiring an additional 5,151 shares in the last quarter. Norden Group LLC grew its holdings in Starbucks by 66.1% during the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after acquiring an additional 12,027 shares in the last quarter. Finally, Graybill Wealth Management LTD. acquired a new position in Starbucks during the 1st quarter worth approximately $4,314,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Starbucks stock opened at $93.06 on Friday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock has a market capitalization of $105.78 billion, a P/E ratio of 40.11, a P/E/G ratio of 5.37 and a beta of 1.02. The firm's 50-day moving average is $92.78 and its two-hundred day moving average is $94.26.

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

Starbucks Announces Dividend

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 issued a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.6%. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research analyst reports. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Royal Bank Of Canada upped their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Evercore ISI restated an "outperform" rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Sanford C. Bernstein increased their price target on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, TD Cowen increased their price target on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Four research 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 stock. According to data from MarketBeat.com, Starbucks has a consensus rating of "Hold" and an average target price of $103.65.

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.

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