Starbucks Corporation $SBUX Shares Sold by Forsta AP Fonden

Forsta AP Fonden decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 8.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232,800 shares of the coffee company’s stock after selling 20,200 shares during the period. Forsta AP Fonden’s holdings in Starbucks were worth $21,331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Starbucks during the first quarter worth about $1,379,619,000. Jennison Associates LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at about $817,759,000. Polen Capital Management LLC purchased a new position in Starbucks during the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. increased its position in Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after buying an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after buying an additional 3,545,655 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SBUX shares. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. BTIG Research restated a “buy” rating and issued a $105.00 price objective on shares of Starbucks in a research note on Thursday, October 30th. Bank of America increased their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Guggenheim raised their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Stock Performance

SBUX stock opened at $87.26 on Thursday. The stock has a market capitalization of $99.19 billion, a PE ratio of 53.21, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The company has a fifty day moving average of $83.79 and a 200-day moving average of $87.56. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.8%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 151.22%.

About Starbucks

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.