Starbucks Corporation $SBUX Shares Sold by Northcape Wealth Management LLC

Northcape Wealth Management LLC lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 20.4% during the second quarter, HoldingsChannel reports. The firm owned 2,920 shares of the coffee company’s stock after selling 748 shares during the period. Northcape Wealth Management LLC’s holdings in Starbucks were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBUX. Nuveen LLC acquired a new position in shares of Starbucks during the first quarter worth about $1,379,619,000. Jennison Associates LLC acquired a new position in Starbucks during the 1st quarter worth approximately $817,759,000. Polen Capital Management LLC acquired a new position in Starbucks during the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. lifted its position in shares of Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $80.96 on Tuesday. The firm has a market cap of $92.03 billion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 4.28 and a beta of 1.01. The firm’s 50-day simple moving average is $84.33 and its 200-day simple moving average is $87.51. 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 Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the previous year, the company earned $0.80 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 151.22%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a report on Thursday, July 17th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Stifel Nicolaus boosted their price target on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven 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 price target of $100.50.

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.