Starbucks Corporation $SBUX Shares Sold by US Bancorp DE

US Bancorp DE lessened its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 882,094 shares of the coffee company’s stock after selling 41,493 shares during the period. US Bancorp DE owned about 0.08% of Starbucks worth $80,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. PUREfi Wealth LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $286,000. Narwhal Capital Management boosted its holdings in shares of Starbucks by 39.6% in the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after buying an additional 9,282 shares in the last quarter. Napa Wealth Management acquired a new position in shares of Starbucks in the 1st quarter valued at $1,435,000. Personal CFO Solutions LLC boosted its holdings in shares of Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after buying an additional 5,151 shares in the last quarter. Finally, First Manhattan CO. LLC. boosted its holdings in shares of Starbucks by 33.1% in the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock valued at $43,777,000 after buying an additional 111,015 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBUX. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a report on Wednesday. BTIG Research set a $105.00 target price on shares of Starbucks in a report on Thursday, September 25th. Citigroup upgraded shares of Starbucks from a “neutral” rating to a “mixed” rating in a report on Thursday. Guggenheim upped their target price on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Finally, Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.00.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $79.78 on Friday. The stock has a market cap of $90.69 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.95 and a beta of 1.01. The firm has a fifty day moving average price of $86.65 and a 200 day moving average price of $88.14. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. Sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is currently 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.