Starbucks Corporation $SBUX Holdings Lowered by First Trust Advisors LP

First Trust Advisors LP decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 27.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 538,337 shares of the coffee company’s stock after selling 201,935 shares during the quarter. First Trust Advisors LP’s holdings in Starbucks were worth $49,328,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Alliance Wealth Advisors LLC increased its position in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after acquiring an additional 108 shares in the last quarter. Cooper Haims Advisors LLC boosted its stake in Starbucks by 3.0% in the 2nd quarter. Cooper Haims Advisors LLC now owns 3,749 shares of the coffee company’s stock worth $344,000 after purchasing an additional 110 shares during the period. Brown Lisle Cummings Inc. boosted its stake in Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares during the period. Diligent Investors LLC grew its position in Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares in the last quarter. Finally, Ted Buchan & Co raised its stake in Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $83.41 on Tuesday. The company has a market capitalization of $94.85 billion, a P/E ratio of 50.86, a P/E/G ratio of 1.74 and a beta of 0.98. The stock’s 50 day moving average price is $84.11 and its 200 day moving average price is $87.72. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s dividend payout ratio is presently 151.22%.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction on Monday, November 10th. The stock was bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the transaction, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SBUX has been the topic of a number of research analyst reports. Dbs Bank downgraded Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Royal Bank Of Canada set a $100.00 price objective on Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Finally, Barclays dropped their price objective on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.44.

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.