Starbucks Corporation $SBUX Shares Sold by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp has reduced its stake in Starbucks Corporation ($SBUX) by 70.4%, now owning 96,077 shares worth approximately $9.42 million.
• Starbucks reported $0.50 EPS for the last quarter, missing the consensus estimate of $0.64, while its revenue increased by 3.8% year-over-year to $9.46 billion.
• The company declared a quarterly dividend of $0.61 per share, representing a 2.9% dividend yield, with a payout ratio of 105.17%.

Jones Financial Companies Lllp cut its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 70.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,077 shares of the coffee company's stock after selling 228,077 shares during the period. Jones Financial Companies Lllp's holdings in Starbucks were worth $9,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SBUX. Nuveen LLC acquired a new stake in shares of Starbucks in the first quarter worth approximately $1,379,619,000. Jennison Associates LLC acquired a new stake in shares of Starbucks in the first quarter worth approximately $817,759,000. Polen Capital Management LLC acquired a new stake in shares of Starbucks in the first quarter worth approximately $503,539,000. Goldman Sachs Group Inc. boosted its stake in shares of Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock worth $1,904,366,000 after acquiring an additional 3,545,655 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 1.5%

Shares of Starbucks stock opened at $84.17 on Tuesday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The business's fifty day simple moving average is $91.39 and its 200-day simple moving average is $91.34. The firm has a market cap of $95.68 billion, a PE ratio of 36.28, a price-to-earnings-growth ratio of 5.09 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS 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 business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company earned $0.93 EPS. The business's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks's dividend payout ratio is 105.17%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citigroup lowered their price objective on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Loop Capital set a $165.00 price objective on Starbucks in a research note on Tuesday, August 12th. Royal Bank Of Canada boosted their price target 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. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and an average price target of $104.40.

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.

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.