Starbucks Corporation $SBUX Shares Sold by Van Hulzen Asset Management LLC

Key Points

• Van Hulzen Asset Management LLC has reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 62.9%, selling 26,401 shares and leaving it with 15,554 shares valued at approximately $1.526 million.
• Starbucks reported an EPS of $0.50 for the last quarter, missing analysts' expectations of $0.64, despite a revenue increase to $9.46 billion.
• The company recently announced a quarterly dividend of $0.61 per share, with a total annualized dividend of $2.44 representing a 2.8% yield.

Van Hulzen Asset Management LLC cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 62.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,554 shares of the coffee company's stock after selling 26,401 shares during the quarter. Van Hulzen Asset Management LLC's holdings in Starbucks were worth $1,526,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks during the fourth quarter worth $25,000. Hughes Financial Services LLC purchased a new position in Starbucks in the first quarter worth $27,000. McClarren Financial Advisors Inc. purchased a new position in Starbucks in the first quarter worth $29,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks in the fourth quarter worth $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in Starbucks in the fourth quarter worth $41,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 0.2%

Shares of NASDAQ:SBUX traded down $0.18 on Friday, hitting $88.38. The company had a trading volume of 7,616,993 shares, compared to its average volume of 11,548,302. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The business has a 50 day moving average of $92.49 and a 200 day moving average of $93.29. The company has a market cap of $100.46 billion, a PE ratio of 38.09, a PEG ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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). 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 quarter in the prior year, the company earned $0.93 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio is currently 105.17%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SBUX. TD Cowen increased their price objective on Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Barclays increased their price objective on Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wells Fargo & Company increased 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. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein upped their target price on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Starbucks 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.