Kimelman & Baird LLC Sells 2,400 Shares of Starbucks Corporation (NASDAQ:SBUX)

Kimelman & Baird LLC trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 85.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 416 shares of the coffee company’s stock after selling 2,400 shares during the period. Kimelman & Baird LLC’s holdings in Starbucks were worth $41,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. TrinityPoint Wealth LLC raised its position in shares of Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 89 shares during the period. Foster Dykema Cabot & Partners LLC increased its holdings in Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after acquiring an additional 97 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock valued at $261,000 after acquiring an additional 97 shares during the last quarter. Mendel Capital Management LLC increased its holdings in Starbucks by 1.8% in the 4th quarter. Mendel Capital Management LLC now owns 5,721 shares of the coffee company’s stock valued at $522,000 after acquiring an additional 101 shares during the last quarter. Finally, Benin Management CORP increased its holdings in Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock valued at $1,626,000 after acquiring an additional 120 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. Royal Bank Of Canada lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Bank of America lifted their price target on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. 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. Sanford C. Bernstein lifted their price target on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $115.00 in a report on Tuesday. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average price target of $103.65.

Starbucks Trading Down 1.2%

SBUX stock opened at $93.06 on Friday. The stock has a market cap of $105.78 billion, a PE ratio of 40.11, a P/E/G ratio of 5.37 and a beta of 1.02. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a 50-day moving average price of $92.78 and a 200 day moving average price of $94.26.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. Sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

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 $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s payout ratio is 105.17%.

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.