Starbucks Corporation (NASDAQ:SBUX) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in Starbucks by 1.2%, owning approximately 923,587 shares valued at $90,595,000 as of the last quarter.
• Starbucks announced a quarterly dividend of $0.61 per share, with an annualized dividend yield of 2.8%, despite having a high payout ratio of 105.17%.
• The company's latest earnings report revealed earnings per share of $0.50, missing consensus estimates, with quarterly revenue increasing by 3.8% year-over-year.

US Bancorp DE cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 923,587 shares of the coffee company's stock after selling 10,879 shares during the period. US Bancorp DE owned approximately 0.08% of Starbucks worth $90,595,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC raised its holdings in 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 buying an additional 81,952 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Starbucks in the fourth quarter worth approximately $602,000. OneAscent Financial Services LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $294,000. Westpac Banking Corp lifted its position in shares of Starbucks by 12.6% in the 4th quarter. Westpac Banking Corp now owns 38,169 shares of the coffee company's stock valued at $3,483,000 after acquiring an additional 4,277 shares in the last quarter. Finally, Arete Wealth Advisors LLC boosted its stake in Starbucks by 20.5% in the 4th quarter. Arete Wealth Advisors LLC now owns 8,492 shares of the coffee company's stock worth $775,000 after purchasing an additional 1,447 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on SBUX shares. Evercore ISI restated an "outperform" rating and issued a $105.00 target price (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. UBS Group increased their price objective on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday. Barclays lifted their target price on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the company an "overweight" rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $101.27.

Starbucks Trading Down 2.6%

Shares of SBUX stock opened at $86.86 on Friday. The firm's fifty day simple moving average is $91.73 and its 200 day simple moving average is $94.58. The firm has a market capitalization of $98.73 billion, a P/E ratio of 37.44, a price-to-earnings-growth ratio of 5.08 and a beta of 1.02. Starbucks Corporation has a 1 year low of $72.72 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The business 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%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. Starbucks's dividend 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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