Starbucks Corporation $SBUX Shares Sold by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora lowered its holdings in Starbucks Corporation (NASDAQ:SBUX) by 3.2% during the second quarter, Holdings Channel reports. The fund owned 24,403 shares of the coffee company’s stock after selling 801 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Starbucks were worth $2,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Napa Wealth Management acquired a new position in Starbucks in the first quarter valued at $1,435,000. Personal CFO Solutions LLC boosted its position in shares of Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after purchasing an additional 5,151 shares during the period. First Manhattan CO. LLC. grew its stake in Starbucks by 33.1% during the 1st 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 last quarter. Fox Run Management L.L.C. purchased a new position in Starbucks during the 1st quarter worth approximately $998,000. Finally, Norden Group LLC increased its position in Starbucks by 66.1% during the first quarter. Norden Group LLC now owns 30,219 shares of the coffee company’s stock worth $2,964,000 after buying an additional 12,027 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 2.7%

NASDAQ SBUX opened at $86.72 on Friday. The stock has a market capitalization of $98.57 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 4.15 and a beta of 1.01. The business’s 50 day moving average is $87.72 and its two-hundred day moving average is $88.69. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s dividend payout ratio is currently 105.17%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a research note on Thursday, July 17th. Guggenheim lifted their price objective on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Loop Capital set a $165.00 target price on shares of Starbucks in a report on Tuesday, August 12th. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.00.

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.