Commerzbank Aktiengesellschaft FI Lowers Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Commerzbank Aktiengesellschaft FI lessened its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 50.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,751 shares of the coffee company’s stock after selling 23,403 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Starbucks were worth $2,232,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Starbucks in the fourth quarter worth about $1,244,812,000. Capital World Investors boosted its position in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after buying an additional 9,174,682 shares during the period. FMR LLC boosted its position in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after buying an additional 5,348,790 shares during the period. Capital Research Global Investors boosted its position in shares of Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after buying an additional 3,563,942 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Starbucks by 218.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,552,921 shares of the coffee company’s stock worth $446,596,000 after buying an additional 3,124,533 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets decreased their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Barclays reiterated an “overweight” rating and issued a $108.00 price target (up previously from $98.00) on shares of Starbucks in a research note on Thursday, June 26th. Evercore ISI reiterated an “outperform” rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company cut their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus target price of $98.92.

Starbucks Price Performance

Shares of SBUX stock opened at $92.51 on Thursday. Starbucks Corporation has a 12-month low of $72.73 and a 12-month high of $117.46. The firm has a market capitalization of $105.13 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 4.73 and a beta of 1.02. The business has a 50 day simple moving average of $89.73 and a 200 day simple moving average of $94.52.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.64%. Starbucks’s payout ratio is currently 88.41%.

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.