Starbucks Corporation $SBUX Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC cut its position in Starbucks Corporation (NASDAQ:SBUX) by 13.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,780 shares of the coffee company’s stock after selling 1,550 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Starbucks were worth $896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.9% during the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after acquiring an additional 953,361 shares in the last quarter. Wellington Management Group LLP grew its stake in Starbucks by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Nuveen LLC acquired a new stake in Starbucks during the 1st quarter valued at approximately $1,379,619,000. Goldman Sachs Group Inc. increased its holdings in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Starbucks in the 1st quarter valued at approximately $817,759,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBUX. Loop Capital set a $165.00 price target on shares of Starbucks in a research note on Tuesday, August 12th. BTIG Research reissued a “buy” rating and set a $105.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Citigroup dropped their target price on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. UBS Group set a $94.00 price target on shares of Starbucks and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Finally, Barclays decreased their price target on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Starbucks presently has an average rating of “Hold” and an average target price of $100.50.

Starbucks Stock Up 2.2%

Shares of NASDAQ:SBUX opened at $86.42 on Wednesday. The company has a market cap of $98.23 billion, a PE ratio of 52.70, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm has a 50-day simple moving average of $83.79 and a 200 day simple moving average of $87.56.

Starbucks (NASDAQ:SBUX) last issued its 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 company had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. As a group, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is 151.22%.

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.