Logan Capital Management Inc. Decreases Stock Holdings in Starbucks Corporation $SBUX

Logan Capital Management Inc. reduced its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,135 shares of the coffee company’s stock after selling 14,298 shares during the quarter. Logan Capital Management Inc.’s holdings in Starbucks were worth $14,765,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter worth $25,000. Chelsea Counsel Co. purchased a new stake in Starbucks during the second quarter worth about $26,000. Hughes Financial Services LLC bought a new stake in Starbucks in the first quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its stake in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Starbucks during the 1st quarter valued at approximately $29,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SBUX. UBS Group set a $94.00 price objective on Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Sanford C. Bernstein boosted their target price on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Finally, Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Stock Performance

Shares of SBUX stock opened at $87.22 on Tuesday. The company has a market capitalization of $99.14 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 4.32 and a beta of 1.01. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The business’s fifty day moving average is $84.90 and its 200 day moving average is $87.51.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal 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. 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. This represents a $2.48 annualized dividend and a dividend yield of 2.8%. Starbucks’s payout ratio 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.