Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Maia Wealth LLC

Maia Wealth LLC lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,958 shares of the coffee company’s stock after selling 670 shares during the quarter. Maia Wealth LLC’s holdings in Starbucks were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SBUX. Brighton Jones LLC increased its holdings in shares of 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 during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Starbucks in the 4th quarter valued at $602,000. Federated Hermes Inc. increased its holdings in shares of Starbucks by 6.2% in the 4th quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company’s stock valued at $486,000 after acquiring an additional 311 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Starbucks by 8.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 383,339 shares of the coffee company’s stock valued at $34,980,000 after acquiring an additional 30,778 shares during the period. Finally, Nicolet Bankshares Inc. increased its holdings in shares of Starbucks by 6.9% in the 4th quarter. Nicolet Bankshares Inc. now owns 3,642 shares of the coffee company’s stock valued at $332,000 after acquiring an additional 234 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on SBUX. Wall Street Zen cut shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $95.00 target price (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. TD Securities reaffirmed a “hold” rating and issued a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. Bank of America boosted their price objective on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $115.00 price objective (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $101.27.

Starbucks Stock Up 1.2%

Starbucks stock opened at $92.12 on Monday. Starbucks Corporation has a 52 week low of $74.75 and a 52 week high of $117.46. The firm’s 50-day simple moving average is $92.27 and its 200 day simple moving average is $94.37. The firm has a market capitalization of $104.71 billion, a PE ratio of 39.71, a P/E/G ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The business 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 firm earned $0.93 earnings per share. Starbucks’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 15th. Starbucks’s dividend payout ratio is 105.17%.

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.