Somerset Trust Co Boosts Holdings in Starbucks Corporation $SBUX

Somerset Trust Co raised its holdings in Starbucks Corporation (NASDAQ:SBUX) by 3.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,244 shares of the coffee company’s stock after acquiring an additional 235 shares during the period. Somerset Trust Co’s holdings in Starbucks were worth $572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks in the 4th quarter valued at about $25,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks during the 1st quarter worth about $27,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Starbucks by 125.2% during the 1st 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 period. McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks during the 1st quarter worth about $29,000. Finally, Nova Wealth Management Inc. grew its holdings in shares of Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Stifel Nicolaus boosted their target price on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Barclays boosted their target price on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Evercore ISI reiterated an “outperform” rating and set a $105.00 target price (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, UBS Group boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Stock Performance

Starbucks stock opened at $81.90 on Friday. The stock’s 50 day moving average price is $90.45 and its 200 day moving average price is $90.64. The firm has a market capitalization of $93.10 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 4.92 and a beta of 1.00. 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 Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. On average, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s dividend 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.