Brighton Jones LLC Sells 7,635 Shares of Starbucks Corporation $SBUX

Brighton Jones LLC trimmed its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 162,143 shares of the coffee company’s stock after selling 7,635 shares during the quarter. Brighton Jones LLC’s holdings in Starbucks were worth $14,857,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SBUX. GAMMA Investing LLC raised its holdings in shares of Starbucks by 21.9% in the first quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock valued at $2,020,000 after buying an additional 3,703 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Starbucks by 1.0% in the first quarter. Sequoia Financial Advisors LLC now owns 40,073 shares of the coffee company’s stock worth $3,931,000 after purchasing an additional 385 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Starbucks by 12.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 51,187 shares of the coffee company’s stock worth $5,021,000 after purchasing an additional 5,758 shares during the period. Diversified Trust Co increased its position in Starbucks by 5.1% in the first quarter. Diversified Trust Co now owns 11,079 shares of the coffee company’s stock worth $1,087,000 after purchasing an additional 535 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Starbucks by 25.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 529,657 shares of the coffee company’s stock worth $51,783,000 after purchasing an additional 108,551 shares during the period. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on SBUX. UBS Group set a $94.00 price objective on Starbucks and gave the stock a “neutral” rating in a research report on Tuesday. Stifel Nicolaus lifted their price objective on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. lifted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.80.

Starbucks Price Performance

NASDAQ:SBUX opened at $86.09 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market capitalization of $97.86 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 4.32 and a beta of 1.01. The business’s 50-day simple moving average is $85.01 and its 200-day simple moving average is $87.53.

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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the firm earned $0.93 EPS. The company’s revenue for the quarter 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 disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is presently 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.