Norway Savings Bank Raises Position in Starbucks Corporation $SBUX

Norway Savings Bank raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 10.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,029 shares of the coffee company’s stock after purchasing an additional 1,011 shares during the period. Norway Savings Bank’s holdings in Starbucks were worth $1,011,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Napa Wealth Management purchased a new stake in Starbucks during the first quarter valued at about $1,435,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Starbucks in the fourth quarter worth about $285,000. Czech National Bank increased its holdings in shares of Starbucks by 6.2% in the first quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock worth $25,591,000 after buying an additional 15,132 shares during the period. Personal CFO Solutions LLC increased its holdings in shares of Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock worth $908,000 after buying an additional 5,151 shares during the period. Finally, First Manhattan CO. LLC. increased its holdings in shares of Starbucks by 33.1% in the first quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock worth $43,777,000 after buying an additional 111,015 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.6%

Shares of SBUX opened at $81.90 on Friday. The business’s 50 day moving average price is $90.45 and its 200-day moving average price is $90.79. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a market cap of $93.10 billion, a P/E ratio of 35.30, a P/E/G ratio of 4.92 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued 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 company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s payout ratio is currently 105.17%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SBUX shares. UBS Group raised their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $95.00 target price (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Wells Fargo & Company raised their target price on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Loop Capital set a $165.00 target price on Starbucks in a research note on Tuesday, August 12th. Finally, TD Securities reissued a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.