Starbucks Corporation $SBUX Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 24.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,477 shares of the coffee company’s stock after selling 22,725 shares during the quarter. Intech Investment Management LLC’s holdings in Starbucks were worth $6,913,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks in the 4th quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks in the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks in the 1st quarter worth approximately $29,000. Activest Wealth Management grew its position in shares of Starbucks by 78.0% in the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of Starbucks in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.6%

Shares of NASDAQ SBUX opened at $82.36 on Friday. The stock has a 50 day simple moving average of $90.70 and a 200-day simple moving average of $91.02. The company has a market cap of $93.62 billion, a PE ratio of 35.50, a P/E/G ratio of 4.93 and a beta of 1.00. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the business earned $0.93 EPS. Starbucks’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research reports. Wells Fargo & Company increased their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Bank of America increased their price target on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. TD Cowen increased their price target on Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Evercore ISI reiterated an “outperform” rating and set a $105.00 price target (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $95.00 price target (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Starbucks presently has a consensus 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.