Starbucks Corporation $SBUX Shares Sold by Bellevue Asset Management LLC

Bellevue Asset Management LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,979 shares of the coffee company’s stock after selling 210 shares during the period. Starbucks comprises approximately 1.9% of Bellevue Asset Management LLC’s holdings, making the stock its 13th largest holding. Bellevue Asset Management LLC’s holdings in Starbucks were worth $3,847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Chelsea Counsel Co. acquired a new stake in shares of Starbucks during the 2nd quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new position in Starbucks during the 1st quarter worth $27,000. CBIZ Investment Advisory Services LLC grew its stake in 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 buying an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Starbucks during the 1st quarter worth $29,000. Finally, Nova Wealth Management Inc. grew its stake in 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 buying an additional 234 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 1.0%

Shares of Starbucks stock opened at $81.29 on Wednesday. The firm has a market cap of $92.40 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 4.05 and a beta of 1.01. The business has a fifty day simple moving average of $87.09 and a 200-day simple moving average of $88.30. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm 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 company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. Analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is currently 105.17%.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. CICC Research initiated coverage on Starbucks in a research note on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective for the company. Bank of America upped their price objective on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 price objective (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Finally, TD Securities restated a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently 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.