Starbucks Corporation $SBUX Shares Sold by Davis R M Inc.

Davis R M Inc. lowered its stake in Starbucks Corporation (NASDAQ:SBUX) by 10.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 27,061 shares of the coffee company’s stock after selling 3,079 shares during the period. Davis R M Inc.’s holdings in Starbucks were worth $2,480,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SBUX. Alliance Wealth Advisors LLC lifted its position in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after acquiring an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. raised its stake in Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares during the last quarter. Diligent Investors LLC raised its stake in Starbucks by 1.9% in the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares during the last quarter. Ted Buchan & Co lifted its holdings in Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. boosted its stake in shares of Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SBUX shares. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. TD Cowen restated a “hold” rating and set a $84.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Finally, Wells Fargo & Company set a $100.00 target price on Starbucks and gave the company an “overweight” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $100.50.

Starbucks Stock Up 4.1%

Shares of SBUX opened at $85.57 on Monday. The firm has a market cap of $97.27 billion, a PE ratio of 52.18, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The company’s fifty day moving average is $83.92 and its two-hundred day moving average is $87.54. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same period last year, the business posted $0.80 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is presently 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.