Bard Financial Services Inc. Sells 1,035 Shares of Starbucks Corporation $SBUX

Bard Financial Services Inc. lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,069 shares of the coffee company’s stock after selling 1,035 shares during the period. Bard Financial Services Inc.’s holdings in Starbucks were worth $6,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. TrinityPoint Wealth LLC raised its stake 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 worth $312,000 after purchasing an additional 89 shares in the last quarter. Benin Management CORP increased its holdings in shares of Starbucks by 0.7% during the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock worth $1,626,000 after acquiring an additional 120 shares during the last quarter. Ted Buchan & Co increased its holdings in shares of Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after acquiring an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. increased its holdings in shares of Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after acquiring an additional 122 shares during the last quarter. Finally, Private Wealth Management Group LLC increased its holdings in shares of Starbucks by 13.3% during the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company’s stock worth $104,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBUX. Loop Capital set a $165.00 target price on Starbucks in a report on Tuesday, August 12th. Citigroup decreased their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. TD Securities reissued a “hold” rating and set a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. Guggenheim boosted their target price on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

Starbucks Stock Performance

SBUX opened at $81.90 on Monday. The firm has a market cap of $93.10 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 4.89 and a beta of 1.00. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The business’s fifty day moving average is $90.45 and its 200-day moving average is $90.47.

Starbucks (NASDAQ:SBUX) last released its earnings results 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 for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s dividend 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.