Starbucks Corporation $SBUX Shares Sold by Northstar Group Inc.

Northstar Group Inc. cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,796 shares of the coffee company’s stock after selling 414 shares during the period. Starbucks accounts for about 0.9% of Northstar Group Inc.’s portfolio, making the stock its 26th largest holding. Northstar Group Inc.’s holdings in Starbucks were worth $5,937,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC lifted its holdings in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after purchasing an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. lifted its holdings in shares of Starbucks by 1.4% in the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares in the last quarter. Benin Management CORP lifted its holdings in shares of Starbucks by 0.7% in the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock valued at $1,626,000 after purchasing an additional 120 shares in the last quarter. Ted Buchan & Co lifted its holdings in shares of Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. lifted its holdings in shares of Starbucks by 3.5% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after purchasing an additional 122 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SBUX shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $103.00 price target (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. TD Securities reaffirmed a “hold” rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. UBS Group upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Finally, BTIG Research set a $105.00 price objective on shares of Starbucks in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

Starbucks Stock Down 0.2%

SBUX stock opened at $84.40 on Thursday. The company has a market cap of $95.94 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 5.12 and a beta of 1.01. The business has a fifty day simple moving average of $87.86 and a 200-day simple moving average of $88.77. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm 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 company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. As a group, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

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