Starbucks Corporation $SBUX Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Starbucks by 31.7% during the second quarter, now holding 34,957 shares valued at approximately $3.2 million.
• Starbucks plans to pay a quarterly dividend of $0.62 per share on November 28, representing a 3.0% yield and an increase from the previous dividend of $0.61.
• Starbucks reported $0.50 earnings per share for the last quarter, missing estimates of $0.64, despite a 3.8% year-over-year revenue increase to $9.46 billion.

Robeco Institutional Asset Management B.V. cut its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 31.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,957 shares of the coffee company's stock after selling 16,230 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Starbucks were worth $3,203,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after buying an additional 81,952 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Starbucks by 16.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,310 shares of the coffee company's stock worth $521,000 after buying an additional 765 shares during the period. Wedmont Private Capital raised its stake in shares of Starbucks by 12.1% during the 1st quarter. Wedmont Private Capital now owns 15,145 shares of the coffee company's stock worth $1,486,000 after buying an additional 1,633 shares during the period. Revolve Wealth Partners LLC acquired a new position in shares of Starbucks during the 1st quarter worth approximately $206,000. Finally, Capital Investment Advisors LLC raised its stake in shares of Starbucks by 7.1% during the 1st quarter. Capital Investment Advisors LLC now owns 19,618 shares of the coffee company's stock worth $1,924,000 after buying an additional 1,305 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 5.0%

Shares of NASDAQ:SBUX opened at $82.11 on Tuesday. The business has a fifty day moving average of $87.33 and a two-hundred day moving average of $88.35. The stock has a market cap of $93.33 billion, a P/E ratio of 35.39, a PEG ratio of 4.25 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 issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company 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%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks's previous quarterly dividend of $0.61. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler set a $105.00 target price on Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company upped their target price on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Guggenheim increased their price objective on Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Zacks Research raised Starbucks from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.00.

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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