Starbucks Corporation $SBUX Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB decreased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 8.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,200 shares of the coffee company’s stock after selling 2,475 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Starbucks were worth $2,401,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Morningstar Investment Management LLC acquired a new position in shares of Starbucks in the second quarter worth $653,000. Naviter Wealth LLC grew its stake in shares of Starbucks by 69.9% during the second quarter. Naviter Wealth LLC now owns 11,733 shares of the coffee company’s stock worth $1,075,000 after purchasing an additional 4,826 shares in the last quarter. Cornerstone Wealth Group LLC grew its stake in shares of Starbucks by 6.1% during the second quarter. Cornerstone Wealth Group LLC now owns 5,665 shares of the coffee company’s stock worth $519,000 after purchasing an additional 328 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Starbucks by 40.2% during the second quarter. Verdence Capital Advisors LLC now owns 15,628 shares of the coffee company’s stock worth $1,432,000 after purchasing an additional 4,481 shares in the last quarter. Finally, Cascade Investment Advisors Inc. grew its stake in shares of Starbucks by 5.1% during the second quarter. Cascade Investment Advisors Inc. now owns 20,628 shares of the coffee company’s stock worth $1,890,000 after purchasing an additional 993 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $82.86 on Thursday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a market capitalization of $94.19 billion, a PE ratio of 35.72, a P/E/G ratio of 4.01 and a beta of 1.01. The company has a fifty day moving average of $85.99 and a two-hundred day moving average of $87.67.

Starbucks (NASDAQ:SBUX) last released 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 company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm 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. 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.0%. Starbucks’s dividend payout ratio is currently 105.17%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. Evercore ISI reiterated an “outperform” rating and set a $105.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research note on Thursday, July 17th. Wells Fargo & Company boosted their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. TD Securities reiterated a “hold” rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Finally, UBS Group boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $102.96.

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.