Starbucks Corporation $SBUX Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. has reduced its stake in Starbucks by 9.8%, now holding 147,318 shares worth approximately $14.45 million.
• Starbucks's recent quarterly earnings report revealed $0.50 earnings per share, falling short of the estimated $0.64, despite a revenue increase of 3.8% year-over-year.
• The company recently declared a quarterly dividend of $0.61 per share, set to be paid on August 29th, with an annualized dividend yield of 2.8%.

Northwestern Mutual Wealth Management Co. decreased its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 147,318 shares of the coffee company's stock after selling 16,032 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Starbucks were worth $14,450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Brighton Jones LLC increased its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Prosperity Consulting Group LLC increased its position in Starbucks by 5.6% during the fourth quarter. Prosperity Consulting Group LLC now owns 2,366 shares of the coffee company's stock worth $216,000 after purchasing an additional 125 shares during the last quarter. Quarry LP increased its position in Starbucks by 153.1% during the fourth quarter. Quarry LP now owns 4,884 shares of the coffee company's stock worth $446,000 after purchasing an additional 2,954 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Starbucks by 4.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,285,696 shares of the coffee company's stock worth $208,570,000 after purchasing an additional 104,517 shares during the last quarter. Finally, Northern Trust Corp increased its position in Starbucks by 4.6% during the fourth quarter. Northern Trust Corp now owns 13,573,337 shares of the coffee company's stock worth $1,238,567,000 after purchasing an additional 600,151 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SBUX shares. Cowen reissued a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. CICC Research started coverage on shares of Starbucks in a research report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective for the company. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the stock an "overweight" 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 equities research 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Trading Down 2.9%

Shares of SBUX stock opened at $85.81 on Tuesday. The company has a market capitalization of $97.54 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 5.25 and a beta of 1.02. The firm has a fifty day simple moving average of $92.34 and a 200-day simple moving average of $93.10. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 earnings per share. Equities research analysts predict 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. Stockholders of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. Starbucks's dividend payout ratio is 105.17%.

Starbucks Company 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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