Starbucks Corporation $SBUX Shares Sold by Viewpoint Capital Management LLC

Viewpoint Capital Management LLC lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 22.1% during the second quarter, Holdings Channel reports. The fund owned 3,366 shares of the coffee company’s stock after selling 956 shares during the quarter. Viewpoint Capital Management LLC’s holdings in Starbucks were worth $308,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SBUX. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after buying an additional 81,952 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Starbucks by 16.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,310 shares of the coffee company’s stock valued at $521,000 after acquiring an additional 765 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Starbucks by 12.1% during the 1st quarter. Wedmont Private Capital now owns 15,145 shares of the coffee company’s stock worth $1,486,000 after purchasing an additional 1,633 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Starbucks during the 1st quarter worth $206,000. Finally, Capital Investment Advisors LLC boosted its holdings in shares of Starbucks by 7.1% during the first quarter. Capital Investment Advisors LLC now owns 19,618 shares of the coffee company’s stock worth $1,924,000 after purchasing an additional 1,305 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $82.11 on Tuesday. The business’s 50-day simple moving average is $87.33 and its 200 day simple moving average is $88.35. The company has a market cap of $93.33 billion, a P/E ratio of 35.39, a PEG ratio of 4.25 and a beta of 1.01. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

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

Starbucks Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.0%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

Analyst Ratings Changes

SBUX has been the topic of several recent analyst reports. UBS Group increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Stifel Nicolaus increased their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Loop Capital set a $165.00 target price on shares of Starbucks in a research report on Tuesday, August 12th. Royal Bank Of Canada upped their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. 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 assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.