Howard Capital Management Inc. Lowers Holdings in Starbucks Corporation (NASDAQ:SBUX)

Howard Capital Management Inc. trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 13.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,848 shares of the coffee company’s stock after selling 4,415 shares during the period. Howard Capital Management Inc.’s holdings in Starbucks were worth $2,830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks in the fourth quarter valued at $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks in the first quarter valued at $27,000. Kapitalo Investimentos Ltda acquired a new position in shares of Starbucks during the 4th quarter worth $32,000. Ball & Co Wealth Management Inc. acquired a new position in shares of Starbucks during the 4th quarter worth $41,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Starbucks during the 4th quarter worth $44,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $92.96 on Wednesday. Starbucks Corporation has a 1 year low of $72.72 and a 1 year high of $117.46. The stock has a market capitalization of $105.64 billion, a P/E ratio of 33.68, a PEG ratio of 6.48 and a beta of 1.02. The stock has a 50-day simple moving average of $91.38 and a 200-day simple moving average of $94.66.

Starbucks (NASDAQ:SBUX) last issued its 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 42.14% and a net margin of 8.61%. The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

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

Wall Street Analyst Weigh In

SBUX has been the subject of several research reports. TD Cowen reaffirmed a “hold” rating and set a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. Wall Street Zen downgraded Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. BMO Capital Markets cut their price target on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Finally, Royal Bank Of Canada lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. 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’s stock. According to MarketBeat.com, the stock 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.