Starbucks Corporation $SBUX Shares Sold by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC cut its stake in Starbucks Corporation (NASDAQ:SBUX) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,164 shares of the coffee company’s stock after selling 120 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Starbucks were worth $703,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks during the fourth quarter worth $25,000. Hughes Financial Services LLC acquired a new position in Starbucks in the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. acquired a new position in Starbucks in the 1st quarter worth about $29,000. Activest Wealth Management grew its holdings in Starbucks by 78.0% in the first quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Starbucks in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $85.43 on Friday. The stock’s 50 day simple moving average is $91.54 and its 200-day simple moving average is $91.68. The stock has a market cap of $97.11 billion, a P/E ratio of 36.82, a P/E/G ratio of 5.09 and a beta of 1.00. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced 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 analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 EPS. As a group, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.61 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s dividend payout ratio is currently 105.17%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. CICC Research assumed coverage on shares of Starbucks in a research report on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective for the company. TD Cowen lifted their price objective on Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 30th. Citigroup reduced their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Finally, Piper Sandler set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.