Starbucks Corporation $SBUX Shares Sold by Fruth Investment Management

Fruth Investment Management decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,094 shares of the coffee company’s stock after selling 705 shares during the quarter. Starbucks comprises approximately 2.1% of Fruth Investment Management’s holdings, making the stock its 8th largest position. Fruth Investment Management’s holdings in Starbucks were worth $7,562,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Napa Wealth Management acquired a new stake in shares of Starbucks in the first quarter valued at $1,435,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of Starbucks in the fourth quarter valued at $285,000. Czech National Bank lifted its holdings in shares of Starbucks by 6.2% in the first quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock valued at $25,591,000 after buying an additional 15,132 shares during the period. Personal CFO Solutions LLC lifted its holdings in shares of Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after buying an additional 5,151 shares during the period. Finally, First Manhattan CO. LLC. lifted its holdings in shares of Starbucks by 33.1% in the first quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock valued at $43,777,000 after buying an additional 111,015 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.6%

Shares of Starbucks stock opened at $82.36 on Friday. The stock has a 50-day moving average price of $90.70 and a 200 day moving average price of $91.02. The company has a market cap of $93.62 billion, a P/E ratio of 35.50, a P/E/G ratio of 4.93 and a beta of 1.00. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. On average, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s dividend payout ratio is presently 105.17%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SBUX. JPMorgan Chase & Co. upped their price objective on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Wall Street Zen lowered Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. TD Cowen upped their target price on Starbucks from $90.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Bank of America lifted their price target on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.40.

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.