NORTHSTAR ASSET MANAGEMENT Co Sells 1,150 Shares of Starbucks Corporation $SBUX

NORTHSTAR ASSET MANAGEMENT Co cut its position in Starbucks Corporation (NASDAQ:SBUX) by 10.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,475 shares of the coffee company’s stock after selling 1,150 shares during the quarter. NORTHSTAR ASSET MANAGEMENT Co’s holdings in Starbucks were worth $868,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC bought a new position in Starbucks in the second quarter worth about $25,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks during the second quarter valued at about $26,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks during the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks during the first quarter valued at about $29,000. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBUX has been the topic of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. BMO Capital Markets restated an “outperform” rating and set a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Royal Bank Of Canada upped their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Loop Capital set a $165.00 target price on Starbucks in a research report on Tuesday, August 12th. Finally, Bank of America raised their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.80.

Starbucks Stock Up 0.8%

Shares of SBUX opened at $86.09 on Friday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The company has a market capitalization of $97.86 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 4.28 and a beta of 1.01. The stock has a fifty day simple moving average of $85.01 and a two-hundred day simple moving average of $87.47.

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

Starbucks Increases Dividend

The business 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 $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is 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.