Optas LLC Cuts Stock Holdings in Starbucks Corporation $SBUX

Optas LLC trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 14,867 shares of the coffee company’s stock after selling 142 shares during the period. Optas LLC’s holdings in Starbucks were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Chelsea Counsel Co. purchased a new position in shares of Starbucks during the 2nd quarter valued at approximately $26,000. Hughes Financial Services LLC purchased a new stake in Starbucks in the 1st quarter worth $27,000. CBIZ Investment Advisory Services LLC increased its holdings in Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Starbucks in the 1st quarter worth $29,000. Finally, Nova Wealth Management Inc. increased its holdings in Starbucks by 285.4% in the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after acquiring an additional 234 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 1.5%

Shares of SBUX stock opened at $80.04 on Thursday. The company’s 50-day moving average price is $86.84 and its 200-day moving average price is $88.25. The stock has a market cap of $90.98 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 4.01 and a beta of 1.01. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 net margin of 7.18% and a negative return on equity of 36.23%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is presently 105.17%.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Barclays boosted their price target on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Morgan Stanley reissued 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. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $104.00.

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.