Amalgamated Bank Sells 10,165 Shares of Starbucks Corporation $SBUX

Amalgamated Bank lessened its position in Starbucks Corporation (NASDAQ:SBUX) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 226,838 shares of the coffee company’s stock after selling 10,165 shares during the period. Amalgamated Bank’s holdings in Starbucks were worth $20,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks in the second quarter worth approximately $25,000. Hughes Financial Services LLC bought a new position in shares of Starbucks in the first quarter worth approximately $27,000. Chelsea Counsel Co. bought a new position in shares of Starbucks in the second quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC lifted its position in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new position in Starbucks during the first quarter valued at approximately $29,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.5%

Shares of SBUX stock opened at $84.17 on Thursday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a market cap of $95.68 billion, a P/E ratio of 36.28, a P/E/G ratio of 4.34 and a beta of 1.01. The company has a 50 day simple moving average of $84.68 and a two-hundred day simple moving average of $87.50.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. As a group, equities analysts forecast 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 paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio is 105.17%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Loop Capital set a $165.00 price objective on shares of Starbucks in a research report on Tuesday, August 12th. UBS Group set a $94.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a research report on Thursday, July 17th. Citigroup lowered their price objective on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, BMO Capital Markets restated an “outperform” rating and set a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.12.

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.