Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Tokio Marine Asset Management Co. Ltd.

Key Points

• Stake Reduction: Tokio Marine Asset Management Co. Ltd. has reduced its stake in Starbucks Corporation by 7.4%, now holding 100,003 shares valued at approximately $9.81 million.
• Earnings Report: Starbucks reported earnings per share of $0.50 for the last quarter, missing expectations of $0.64, while its revenue increased by 3.8% year-over-year to $9.46 billion.
• Dividend Announcement: The company announced a quarterly dividend of $0.61 per share, resulting in an annualized yield of 2.6%, with a payout ratio of 105.17%.

Tokio Marine Asset Management Co. Ltd. lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,003 shares of the coffee company's stock after selling 7,992 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in Starbucks were worth $9,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the 4th quarter valued at about $25,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks during the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks during the 1st quarter worth about $29,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Starbucks during the 4th quarter worth about $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of Starbucks during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Up 1.8%

NASDAQ:SBUX opened at $93.37 on Wednesday. The business's 50-day moving average price is $92.53 and its 200 day moving average price is $94.31. The firm has a market cap of $106.13 billion, a P/E ratio of 40.25, a PEG ratio of 5.23 and a beta of 1.02. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (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 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 was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. Sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. CICC Research assumed coverage on Starbucks in a report on Monday, June 30th. They set an "outperform" rating and a $100.00 target price for the company. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Cowen reiterated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price for the company. in a report on Thursday, July 17th. Finally, Loop Capital set a $165.00 target price on Starbucks in a report on Tuesday. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Starbucks has a consensus rating of "Hold" and a consensus price target of $104.19.

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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.