US Bancorp DE Cuts Position in Starbucks Corporation $SBUX

US Bancorp DE lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 4.5% in the second quarter, HoldingsChannel.com reports. The firm owned 882,094 shares of the coffee company’s stock after selling 41,493 shares during the quarter. US Bancorp DE’s holdings in Starbucks were worth $80,827,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Chelsea Counsel Co. purchased a new position in shares of Starbucks in the 2nd quarter valued at about $26,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks in the 1st quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks in the 1st quarter valued at about $29,000. Finally, Nova Wealth Management Inc. increased its holdings in shares of Starbucks by 285.4% in the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $79.78 on Friday. The company’s 50 day simple moving average is $86.65 and its 200 day simple moving average is $88.14. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a market capitalization of $90.69 billion, a PE ratio of 34.39, a P/E/G ratio of 3.95 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its earnings results 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 company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the business posted $0.93 earnings per share. Starbucks’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is 105.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SBUX shares. Stifel Nicolaus raised their target price on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Morgan Stanley restated an “overweight” rating and set a $103.00 target price (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Barclays raised their target price on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.