Curbstone Financial Management Corp Cuts Stock Position in Starbucks Corporation $SBUX

Curbstone Financial Management Corp cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 6.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,676 shares of the coffee company’s stock after selling 850 shares during the quarter. Curbstone Financial Management Corp’s holdings in Starbucks were worth $1,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Nicholson Wealth Management Group LLC boosted its stake in Starbucks by 1.2% during the second quarter. Nicholson Wealth Management Group LLC now owns 16,173 shares of the coffee company’s stock worth $1,482,000 after buying an additional 184 shares during the period. Chevy Chase Trust Holdings LLC boosted its stake in Starbucks by 0.7% during the second quarter. Chevy Chase Trust Holdings LLC now owns 614,069 shares of the coffee company’s stock worth $56,267,000 after buying an additional 4,297 shares during the period. AssuredPartners Investment Advisors LLC boosted its stake in Starbucks by 2.3% during the second quarter. AssuredPartners Investment Advisors LLC now owns 29,873 shares of the coffee company’s stock worth $2,737,000 after buying an additional 671 shares during the period. Private Trust Co. NA boosted its stake in Starbucks by 4.8% during the second quarter. Private Trust Co. NA now owns 12,396 shares of the coffee company’s stock worth $1,136,000 after buying an additional 567 shares during the period. Finally, SilverOak Wealth Management LLC boosted its stake in Starbucks by 6.4% during the second quarter. SilverOak Wealth Management LLC now owns 4,318 shares of the coffee company’s stock worth $396,000 after buying an additional 261 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

SBUX stock opened at $85.36 on Friday. The business has a 50-day moving average price of $85.72 and a 200 day moving average price of $87.49. The company has a market capitalization of $97.03 billion, a P/E ratio of 36.79, a PEG ratio of 4.17 and a beta of 1.01. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share. On average, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBUX. UBS Group lifted their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the company an “overweight” rating in a research note on Thursday. BTIG Research set a $105.00 target price on shares of Starbucks in a research note on Thursday, September 25th. Finally, Stifel Nicolaus boosted their target price on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.76.

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.