BI Asset Management Fondsmaeglerselskab A S Sells 19,666 Shares of Starbucks Corporation $SBUX

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 33.3% in the first quarter, Holdings Channel.com reports. The firm owned 39,458 shares of the coffee company’s stock after selling 19,666 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Starbucks were worth $3,870,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Starbucks by 86.5% in the fourth 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 last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Starbucks by 1,548.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,513,437 shares of the coffee company’s stock worth $138,102,000 after purchasing an additional 1,421,600 shares during the last quarter. RiverPark Advisors LLC boosted its position in shares of Starbucks by 59.6% in the 4th quarter. RiverPark Advisors LLC now owns 12,587 shares of the coffee company’s stock worth $1,149,000 after purchasing an additional 4,701 shares during the last quarter. Burling Wealth Partners LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $751,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Starbucks by 25.6% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 121,085 shares of the coffee company’s stock valued at $11,001,000 after purchasing an additional 24,718 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX opened at $89.51 on Thursday. The firm has a market cap of $101.75 billion, a P/E ratio of 38.58, a PEG ratio of 5.34 and a beta of 1.02. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The firm’s 50 day moving average price is $92.70 and its two-hundred day moving average price is $93.83.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 earnings per share. On average, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend yield of 2.7%. The ex-dividend date is Friday, August 15th. Starbucks’s payout ratio is 105.17%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SBUX. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price on the stock. in a report on Thursday, July 17th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Evercore ISI reiterated an “outperform” rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada boosted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus 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.