Starbucks Corporation $SBUX Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 26.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,850 shares of the coffee company's stock after selling 153,888 shares during the quarter. Nordea Investment Management AB's holdings in Starbucks were worth $39,096,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SBUX. Brighton Jones LLC grew its position in Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after acquiring an additional 81,952 shares in the last quarter. GAMMA Investing LLC grew its position in Starbucks by 21.9% in the 1st quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company's stock valued at $2,020,000 after acquiring an additional 3,703 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Starbucks by 5.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 472,776 shares of the coffee company's stock worth $46,375,000 after buying an additional 25,809 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Starbucks by 7.1% during the first quarter. Exchange Traded Concepts LLC now owns 6,739 shares of the coffee company's stock worth $661,000 after buying an additional 449 shares in the last quarter. Finally, ORG Partners LLC grew its position in shares of Starbucks by 12.1% during the first quarter. ORG Partners LLC now owns 2,089 shares of the coffee company's stock worth $205,000 after buying an additional 225 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 1.2%

Shares of SBUX opened at $85.36 on Friday. The stock has a 50 day moving average price of $85.72 and a 200 day moving average price of $87.40. The company has a market capitalization of $97.03 billion, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 4.22 and a beta of 1.01. 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 announced its quarterly 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 business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. This is an increase from Starbucks's previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SBUX. JPMorgan Chase & Co. boosted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Morgan Stanley reissued an "overweight" rating and set a $103.00 price objective (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Piper Sandler set a $105.00 price objective on Starbucks and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Evercore ISI reissued an "outperform" rating and set a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Finally, UBS Group boosted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $102.76.

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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