Burns J W & Co. Inc. NY Sells 2,749 Shares of Starbucks Corporation $SBUX

Burns J W & Co. Inc. NY reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,128 shares of the coffee company’s stock after selling 2,749 shares during the period. Burns J W & Co. Inc. NY’s holdings in Starbucks were worth $5,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SBUX. Brighton Jones LLC lifted its holdings in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Twinbeech Capital LP acquired a new stake in Starbucks during the 4th quarter worth approximately $368,000. Westwood Holdings Group Inc. acquired a new stake in Starbucks during the 4th quarter worth approximately $380,000. Focus Partners Advisor Solutions LLC lifted its holdings in Starbucks by 69.9% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 13,644 shares of the coffee company’s stock worth $1,245,000 after purchasing an additional 5,614 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Starbucks by 14.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 216,993 shares of the coffee company’s stock valued at $19,801,000 after acquiring an additional 28,000 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SBUX shares. TD Securities reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a report on Monday, June 23rd. Loop Capital set a $165.00 price objective on Starbucks in a report on Tuesday, August 12th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a report on Thursday, July 17th. Wall Street Zen cut Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, Citigroup dropped their price objective on Starbucks from $100.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.40.

Starbucks Trading Up 0.2%

NASDAQ SBUX opened at $83.42 on Friday. The business’s 50-day moving average price is $89.54 and its two-hundred day moving average price is $89.93. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a market capitalization of $94.82 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 4.97 and a beta of 1.00.

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

Starbucks Announces Dividend

The business also recently declared 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 2.9%. The ex-dividend date was Friday, August 15th. Starbucks’s payout ratio is 105.17%.

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.