Starbucks Corporation $SBUX Shares Sold by Peloton Wealth Strategists

Key Points

• Peloton Wealth Strategists has reduced its holdings in Starbucks Corporation by 15.1%, selling 3,600 shares and now owning 20,252 shares valued at approximately $1,987,000.
• Starbucks reported in its latest earnings results $0.50 EPS, which missed analysts' expectations, despite a 3.8% increase in quarterly revenue year-over-year to $9.46 billion.
• The company announced a $0.61 quarterly dividend with an annual yield of 2.9%, although its payout ratio currently stands at 105.17%.

Peloton Wealth Strategists cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 15.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,252 shares of the coffee company's stock after selling 3,600 shares during the quarter. Peloton Wealth Strategists' holdings in Starbucks were worth $1,987,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the 4th quarter worth $25,000. Hughes Financial Services LLC acquired a new position in Starbucks during the 1st quarter worth $27,000. McClarren Financial Advisors Inc. acquired a new position in Starbucks during the 1st quarter worth $29,000. Activest Wealth Management grew its stake in Starbucks by 78.0% during the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new position in Starbucks during the 4th quarter worth $41,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

NASDAQ SBUX opened at $84.17 on Tuesday. The firm's fifty day moving average price is $91.39 and its 200 day moving average price is $91.34. The company has a market capitalization of $95.68 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 5.09 and a beta of 1.00. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

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

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued 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 payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

Several research firms recently commented on SBUX. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Evercore ISI restated an "outperform" rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the company an "overweight" rating in a report on Wednesday, July 30th. Bank of America raised their price objective on shares of Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Guggenheim raised their price objective on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of "Moderate Buy" and an average target price of $104.40.

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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