Baader Bank Aktiengesellschaft Sells 2,169 Shares of Starbucks Corporation (NASDAQ:SBUX)

Baader Bank Aktiengesellschaft cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 12.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 14,731 shares of the coffee company’s stock after selling 2,169 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Starbucks were worth $1,418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors bought a new position in Starbucks in the 4th quarter valued at approximately $285,000. Czech National Bank lifted its holdings in shares of Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock valued at $25,591,000 after buying an additional 15,132 shares during the period. Personal CFO Solutions LLC lifted its holdings in shares of Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after buying an additional 5,151 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Starbucks by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company’s stock valued at $45,489,000 after buying an additional 3,130 shares during the period. Finally, Norden Group LLC lifted its holdings in shares of Starbucks by 66.1% during the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company’s stock valued at $2,964,000 after buying an additional 12,027 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.8%

Shares of NASDAQ:SBUX opened at $92.96 on Wednesday. Starbucks Corporation has a 12 month low of $72.72 and a 12 month high of $117.46. The company has a 50-day moving average price of $91.38 and a 200 day moving average price of $94.66. The company has a market cap of $105.64 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 6.48 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the previous year, the business posted $0.93 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, August 15th. Starbucks’s payout ratio is currently 88.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. CICC Research assumed coverage on Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price target on the stock. Sanford C. Bernstein upped their price objective on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. reduced their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Evercore ISI restated an “outperform” rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Four 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. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average target price of $98.58.

Starbucks 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.