Vestmark Advisory Solutions Inc. Reduces Holdings in Starbucks Corporation $SBUX

Vestmark Advisory Solutions Inc. lowered its position in Starbucks Corporation (NASDAQ:SBUX) by 41.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,432 shares of the coffee company’s stock after selling 29,882 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Starbucks were worth $3,888,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SBUX. Bryn Mawr Trust Advisors LLC grew its position in shares of Starbucks by 32.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 21,387 shares of the coffee company’s stock valued at $1,960,000 after purchasing an additional 5,186 shares in the last quarter. Texas Yale Capital Corp. grew its holdings in Starbucks by 3.8% in the 2nd quarter. Texas Yale Capital Corp. now owns 6,878 shares of the coffee company’s stock valued at $630,000 after buying an additional 250 shares in the last quarter. Souders Financial Advisors increased its stake in shares of Starbucks by 66.3% in the 2nd quarter. Souders Financial Advisors now owns 5,700 shares of the coffee company’s stock worth $522,000 after acquiring an additional 2,272 shares during the last quarter. Washington Trust Bank raised its holdings in shares of Starbucks by 9.1% during the 2nd quarter. Washington Trust Bank now owns 195,655 shares of the coffee company’s stock worth $17,928,000 after acquiring an additional 16,394 shares during the period. Finally, HORAN Wealth LLC purchased a new position in shares of Starbucks during the 2nd quarter worth $210,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America lifted their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Sanford C. Bernstein set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. Royal Bank Of Canada set a $100.00 price objective on Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research note on Thursday, July 17th. Finally, Barclays reduced their target price on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.50.

Starbucks Price Performance

NASDAQ SBUX opened at $85.57 on Friday. The company has a market cap of $97.27 billion, a P/E ratio of 52.18, a P/E/G ratio of 4.28 and a beta of 1.02. The stock has a 50-day moving average of $83.92 and a two-hundred day moving average of $87.50. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. On average, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is presently 151.22%.

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.