Keybank National Association OH Reduces Stock Position in Starbucks Corporation $SBUX

Keybank National Association OH lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 5.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 255,841 shares of the coffee company’s stock after selling 16,082 shares during the period. Keybank National Association OH’s holdings in Starbucks were worth $23,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Brighton Jones LLC lifted its holdings in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after buying an additional 81,952 shares in the last quarter. DAVENPORT & Co LLC grew its stake in Starbucks by 13.5% in the 1st quarter. DAVENPORT & Co LLC now owns 92,351 shares of the coffee company’s stock worth $9,059,000 after acquiring an additional 10,974 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Starbucks by 10.6% during the first quarter. Aaron Wealth Advisors LLC now owns 7,204 shares of the coffee company’s stock worth $707,000 after acquiring an additional 692 shares during the period. Pinnacle Financial Partners Inc raised its stake in shares of Starbucks by 1.8% during the first quarter. Pinnacle Financial Partners Inc now owns 10,826 shares of the coffee company’s stock valued at $1,054,000 after acquiring an additional 191 shares in the last quarter. Finally, Arlington Trust Co LLC boosted its holdings in shares of Starbucks by 104.6% in the first quarter. Arlington Trust Co LLC now owns 978 shares of the coffee company’s stock valued at $96,000 after purchasing an additional 500 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on SBUX shares. Mizuho upgraded Starbucks to a “hold” rating in a report on Tuesday. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Morgan Stanley set a $105.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada set a $100.00 target price on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $100.50.

Starbucks Stock Down 1.2%

NASDAQ SBUX opened at $83.15 on Friday. The company has a 50 day moving average price of $84.58 and a 200 day moving average price of $87.47. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The firm has a market cap of $94.52 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 4.28 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The business had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period in the previous year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research 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. Investors of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 105.17%.

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.