Freestone Capital Holdings LLC Lowers Stock Holdings in Starbucks Corporation $SBUX

Freestone Capital Holdings LLC lowered its stake in Starbucks Corporation (NASDAQ:SBUX) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,995 shares of the coffee company’s stock after selling 3,027 shares during the period. Freestone Capital Holdings LLC’s holdings in Starbucks were worth $5,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Narwhal Capital Management raised its holdings in Starbucks by 39.6% during the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after buying an additional 9,282 shares during the period. PUREfi Wealth LLC bought a new position in Starbucks during the second quarter valued at $286,000. Napa Wealth Management bought a new position in Starbucks during the first quarter valued at $1,435,000. Morningstar Investment Management LLC purchased a new stake in shares of Starbucks in the second quarter valued at $653,000. Finally, Pegasus Asset Management Inc. bought a new stake in shares of Starbucks in the 2nd quarter worth about $1,289,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SBUX shares. BTIG Research reiterated a “buy” rating and set a $105.00 price target on shares of Starbucks in a report on Thursday. Royal Bank Of Canada set a $100.00 target price on Starbucks and gave the company an “outperform” rating in a research report on Thursday. Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Citigroup dropped their price objective on Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Guggenheim increased their target price on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

Starbucks Stock Down 2.7%

Shares of SBUX stock opened at $80.87 on Monday. The firm has a market cap of $91.92 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The company’s 50 day moving average is $84.43 and its 200 day moving average is $87.52.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the business posted $0.80 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal 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 issued a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is presently 151.22%.

Starbucks Company 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.