Starbucks Corporation $SBUX Stake Lowered by Fulton Bank N.A.

Fulton Bank N.A. trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,420 shares of the coffee company’s stock after selling 1,591 shares during the quarter. Fulton Bank N.A.’s holdings in Starbucks were worth $1,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks during the fourth quarter worth about $25,000. Hughes Financial Services LLC bought a new position in Starbucks in the 1st quarter worth about $27,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the period. McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks during the first quarter valued at approximately $29,000. Finally, Nova Wealth Management Inc. boosted its position in shares of Starbucks by 285.4% during the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.2%

Shares of SBUX opened at $83.42 on Friday. The firm has a market capitalization of $94.82 billion, a price-to-earnings ratio of 35.96, a P/E/G ratio of 4.97 and a beta of 1.00. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock’s 50-day moving average price is $89.54 and its 200 day moving average price is $89.93.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.61 per share. The ex-dividend date was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio is 105.17%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SBUX. Cowen reaffirmed a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. Stifel Nicolaus boosted their target price on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. TD Securities reissued a “hold” rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.