Apexium Financial LP Has $219,000 Stock Holdings in Starbucks Corporation $SBUX

Apexium Financial LP lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 41.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,385 shares of the coffee company’s stock after selling 1,660 shares during the quarter. Apexium Financial LP’s holdings in Starbucks were worth $219,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SBUX. Nuveen LLC acquired a new stake in Starbucks during the first quarter valued at $1,379,619,000. Jennison Associates LLC acquired a new stake in Starbucks during the first quarter valued at $817,759,000. Polen Capital Management LLC acquired a new stake in Starbucks during the first quarter valued at $503,539,000. Goldman Sachs Group Inc. boosted its position in Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Starbucks by 22.3% during the first 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 during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $86.42 on Friday. The stock’s fifty day moving average price is $87.56 and its two-hundred day moving average price is $88.53. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The company has a market cap of $98.23 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the company posted $0.93 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders 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 represents a $2.48 annualized dividend and a yield of 2.9%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research report on Saturday, September 27th. Finally, Barclays boosted their price target on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

About Starbucks

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.