Starbucks Corporation $SBUX Shares Sold by Apexium Financial LP

Apexium Financial LP lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 41.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in Starbucks during the first quarter valued at approximately $27,000. Chelsea Counsel Co. acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC raised its position 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. acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $29,000. Finally, Nova Wealth Management Inc. raised its position 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. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Loop Capital set a $165.00 price target on Starbucks in a research report on Tuesday, August 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $95.00 price target (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. JPMorgan Chase & Co. increased their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

Starbucks Stock Down 0.3%

Shares of NASDAQ SBUX opened at $86.42 on Friday. The stock has a market capitalization of $98.23 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.25 and a beta of 1.01. The stock’s fifty day simple moving average is $87.56 and its 200 day simple moving average is $88.53. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 36.23% and a net margin of 7.18%.The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share. As a group, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current 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 issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is presently 105.17%.

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.