OMC Financial Services LTD Sells 375 Shares of Starbucks Corporation $SBUX

OMC Financial Services LTD decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,902 shares of the coffee company’s stock after selling 375 shares during the period. Starbucks makes up 0.9% of OMC Financial Services LTD’s holdings, making the stock its 29th largest position. OMC Financial Services LTD’s holdings in Starbucks were worth $2,099,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Narwhal Capital Management raised its position in shares of Starbucks by 39.6% during the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after acquiring an additional 9,282 shares during the last quarter. PUREfi Wealth LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at $286,000. Napa Wealth Management bought a new stake in shares of Starbucks during the 1st quarter valued at $1,435,000. Morningstar Investment Management LLC bought a new stake in shares of Starbucks in the 2nd quarter valued at $653,000. Finally, Pegasus Asset Management Inc. bought a new stake in shares of Starbucks in the 2nd quarter valued at $1,289,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Cowen restated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. UBS Group set a $94.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a research report on Tuesday. Guggenheim upped their price objective on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. BTIG Research set a $105.00 price objective on shares of Starbucks in a research report on Thursday, September 25th. Finally, Barclays increased their target price on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.60.

Starbucks Price Performance

Starbucks stock opened at $85.90 on Wednesday. The firm has a 50-day moving average of $85.42 and a 200-day moving average of $87.40. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company has a market cap of $97.64 billion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 4.24 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

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.