Mutual of America Capital Management LLC Has $11.94 Million Stake in Starbucks Corporation $SBUX

Mutual of America Capital Management LLC trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,304 shares of the coffee company’s stock after selling 1,876 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Starbucks were worth $11,940,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SBUX. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% during the fourth 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 period. GAMMA Investing LLC grew its holdings in Starbucks by 21.9% during the first quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock worth $2,020,000 after buying an additional 3,703 shares in the last quarter. ORG Partners LLC grew its holdings in Starbucks by 12.1% during the first quarter. ORG Partners LLC now owns 2,089 shares of the coffee company’s stock worth $205,000 after buying an additional 225 shares in the last quarter. Advisor Resource Council bought a new stake in Starbucks during the first quarter worth $505,000. Finally, Castleview Partners LLC grew its holdings in Starbucks by 1,258.9% during the first quarter. Castleview Partners LLC now owns 2,052 shares of the coffee company’s stock worth $201,000 after buying an additional 1,901 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America upped their price target on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. TD Cowen decreased their price target on Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a report on Friday, October 10th. JPMorgan Chase & Co. upped their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Cowen reiterated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.76.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $85.36 on Monday. The company has a market capitalization of $97.03 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 4.22 and a beta of 1.01. The business has a fifty day moving average price of $85.72 and a two-hundred day moving average price of $87.40. 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. Sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio is currently 105.17%.

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.