Motco Decreases Holdings in Starbucks Corporation $SBUX

Motco trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 15.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,943 shares of the coffee company’s stock after selling 527 shares during the period. Motco’s holdings in Starbucks were worth $262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Game Plan Financial Advisors LLC purchased a new position in Starbucks during the second quarter valued at $25,000. Chelsea Counsel Co. purchased a new position in Starbucks during the second quarter valued at $26,000. Hughes Financial Services LLC purchased a new position in Starbucks during the first quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in Starbucks by 125.2% during 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 in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in Starbucks during the first quarter valued at $29,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on SBUX shares. Royal Bank Of Canada increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. Loop Capital set a $165.00 price target on shares of Starbucks in a research note on Tuesday, August 12th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $115.00 price target (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Starbucks Price Performance

Shares of SBUX stock opened at $84.17 on Thursday. The firm’s 50-day moving average is $84.68 and its two-hundred day moving average is $87.50. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a market capitalization of $95.68 billion, a PE ratio of 36.28, a price-to-earnings-growth ratio of 4.34 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.During the same quarter in the previous year, the company earned $0.80 EPS. Starbucks’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is presently 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.