Godsey & Gibb Inc. Has $56,000 Stock Position in Starbucks Corporation $SBUX

Godsey & Gibb Inc. reduced its holdings in Starbucks Corporation (NASDAQ:SBUX) by 17.0% in the second quarter, HoldingsChannel reports. The firm owned 615 shares of the coffee company’s stock after selling 126 shares during the period. Godsey & Gibb Inc.’s holdings in Starbucks were worth $56,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. PUREfi Wealth LLC purchased a new position in shares of Starbucks during the 2nd quarter valued at $286,000. Napa Wealth Management bought a new position in shares of Starbucks during the 1st quarter valued at about $1,435,000. Personal CFO Solutions LLC increased its position in shares of Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after purchasing an additional 5,151 shares during the last quarter. First Manhattan CO. LLC. grew its position in Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock worth $43,777,000 after acquiring an additional 111,015 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Starbucks during the 1st quarter worth approximately $998,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 5.0%

NASDAQ:SBUX opened at $82.11 on Tuesday. The stock’s fifty day moving average is $87.33 and its two-hundred day moving average is $88.35. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a market capitalization of $93.33 billion, a price-to-earnings ratio of 35.39, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

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 company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share. On average, sell-side analysts expect 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. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.0%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SBUX shares. Barclays lifted 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. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. UBS Group increased their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Wells Fargo & Company increased their target price on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Loop Capital set a $165.00 price objective on Starbucks in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.00.

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.