InvesTrust Sells 42,077 Shares of Starbucks Corporation $SBUX

InvesTrust trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 64.5% in the second quarter, Holdings Channel.com reports. The firm owned 23,198 shares of the coffee company’s stock after selling 42,077 shares during the quarter. InvesTrust’s holdings in Starbucks were worth $2,126,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Napa Wealth Management bought a new position in shares of Starbucks during the 1st quarter worth approximately $1,435,000. Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks during the 4th quarter worth approximately $285,000. Czech National Bank grew its stake in shares of Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock worth $25,591,000 after acquiring an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC grew its stake in shares of Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock worth $908,000 after acquiring an additional 5,151 shares in the last quarter. Finally, First Manhattan CO. LLC. grew its stake in shares of Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock worth $43,777,000 after acquiring an additional 111,015 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.6%

NASDAQ:SBUX opened at $81.90 on Friday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a fifty day simple moving average of $90.45 and a 200 day simple moving average of $90.79. The stock has a market capitalization of $93.10 billion, a PE ratio of 35.30, a P/E/G ratio of 4.92 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the business posted $0.93 earnings per share. Starbucks’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 was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s payout ratio is 105.17%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 30th. TD Securities reaffirmed a “hold” rating and set a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. CICC Research assumed coverage on shares of Starbucks in a research note on Monday, June 30th. They set an “outperform” rating and a $100.00 price target for the company. Cowen reaffirmed a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

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.