Davidson Trust Co. Sells 1,104 Shares of Starbucks Corporation $SBUX

Davidson Trust Co. reduced its position in Starbucks Corporation (NASDAQ:SBUX) by 22.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,850 shares of the coffee company’s stock after selling 1,104 shares during the quarter. Davidson Trust Co.’s holdings in Starbucks were worth $353,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Game Plan Financial Advisors LLC acquired a new stake in Starbucks during the second quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks during the first quarter worth approximately $27,000. Chelsea Counsel Co. acquired a new stake in Starbucks during the second quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC grew its stake in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the first quarter worth approximately $29,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 1.4%

SBUX stock opened at $81.15 on Wednesday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock’s 50 day moving average is $86.11 and its 200-day moving average is $87.70. The firm has a market capitalization of $92.24 billion, a PE ratio of 34.98, a P/E/G ratio of 3.97 and a beta of 1.01.

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

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is 105.17%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Sanford C. Bernstein raised their target price on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Bank of America raised their target price on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Stifel Nicolaus increased their price target on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.96.

Starbucks Company 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.