Mutual of America Capital Management LLC Cuts Holdings in Starbucks Corporation (NASDAQ:SBUX)

Mutual of America Capital Management LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,180 shares of the coffee company’s stock after selling 3,687 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Starbucks were worth $12,966,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SBUX. Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks during the fourth quarter valued at about $285,000. Czech National Bank increased its stake in shares of Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock valued at $25,591,000 after purchasing an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in shares of Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after acquiring an additional 5,151 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Starbucks by 0.6% during the fourth 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 last quarter. Finally, Truist Financial Corp increased its holdings in shares of Starbucks by 2.2% in the 1st quarter. Truist Financial Corp now owns 802,305 shares of the coffee company’s stock worth $78,698,000 after purchasing an additional 17,089 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Robert W. Baird raised their price target on Starbucks from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. UBS Group lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Barclays upped their price target on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Cowen reissued a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.27.

Starbucks Stock Performance

Shares of Starbucks stock opened at $88.99 on Thursday. The company has a 50-day simple moving average of $91.96 and a two-hundred day simple moving average of $94.48. Starbucks Corporation has a one year low of $74.75 and a one year high of $117.46. The company has a market capitalization of $101.15 billion, a PE ratio of 38.36, a P/E/G ratio of 5.14 and a beta of 1.02.

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

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.7%. Starbucks’s dividend payout ratio is currently 105.17%.

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.