Dillon & Associates Inc. Sells 1,910 Shares of Starbucks Corporation $SBUX

Dillon & Associates Inc. lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 86,169 shares of the coffee company’s stock after selling 1,910 shares during the quarter. Starbucks makes up about 1.1% of Dillon & Associates Inc.’s holdings, making the stock its 27th biggest holding. Dillon & Associates Inc.’s holdings in Starbucks were worth $7,928,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC bought a new stake in Starbucks during the second quarter worth about $25,000. Chelsea Counsel Co. bought a new stake in Starbucks during the second quarter worth about $26,000. Hughes Financial Services LLC bought a new stake in Starbucks during the first quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in Starbucks during the first quarter worth about $29,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SBUX shares. UBS Group set a $94.00 target price on Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Barclays lowered their target price on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Piper Sandler lowered their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Stifel Nicolaus boosted their target price on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.50.

Starbucks Price Performance

SBUX opened at $80.96 on Tuesday. The business has a 50 day simple moving average of $84.33 and a two-hundred day simple moving average of $87.51. The firm has a market capitalization of $92.03 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. As a group, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 151.22%.

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.