Starbucks Corporation $SBUX Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has decreased its stake in Starbucks Corporation by 24.4%, now holding 70,477 shares worth approximately $6.9 million.
• Goldman Sachs Group Inc. increased its position in Starbucks by 59.5%, owning over 9.6 million shares valued at around $943.9 million, reflecting strong institutional interest.
• Starbucks reported quarterly earnings that missed analysts' expectations, with an EPS of $0.50 compared to the consensus estimate of $0.64.

Intech Investment Management LLC decreased its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 24.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,477 shares of the coffee company's stock after selling 22,725 shares during the period. Intech Investment Management LLC's holdings in Starbucks were worth $6,913,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen LLC acquired a new position in Starbucks during the first quarter valued at approximately $1,379,619,000. Jennison Associates LLC acquired a new position in Starbucks during the first quarter valued at approximately $817,759,000. Polen Capital Management LLC acquired a new position in Starbucks during the first quarter valued at approximately $503,539,000. Goldman Sachs Group Inc. lifted its position in Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after buying an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after buying an additional 3,545,655 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Citigroup decreased their target price on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Sanford C. Bernstein upped their target price on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Loop Capital set a $165.00 price objective on shares of Starbucks in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

Starbucks Stock Down 0.6%

Shares of SBUX opened at $82.36 on Friday. The business's 50 day moving average is $90.70 and its two-hundred day moving average is $91.02. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market cap of $93.62 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 4.93 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. 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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