SP Asset Management LLC Reduces Stock Holdings in Starbucks Corporation $SBUX

SP Asset Management LLC decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,136 shares of the coffee company’s stock after selling 3,984 shares during the quarter. SP Asset Management LLC’s holdings in Starbucks were worth $7,343,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SBUX. Brighton Jones LLC boosted its holdings in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in Starbucks by 81.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 8,787 shares of the coffee company’s stock valued at $862,000 after acquiring an additional 3,947 shares during the period. Stratos Wealth Advisors LLC boosted its holdings in Starbucks by 3.6% during the 1st quarter. Stratos Wealth Advisors LLC now owns 6,940 shares of the coffee company’s stock valued at $681,000 after acquiring an additional 240 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Starbucks by 11.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 432,452 shares of the coffee company’s stock valued at $42,049,000 after acquiring an additional 43,395 shares during the period. Finally, Trek Financial LLC purchased a new position in Starbucks during the 1st quarter valued at $1,499,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SBUX shares. Loop Capital set a $165.00 price objective on Starbucks in a report on Tuesday, August 12th. UBS Group set a $94.00 target price on Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada set a $100.00 target price on Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. TD Cowen reaffirmed a “hold” rating and set a $84.00 target price on shares of Starbucks in a research report on Thursday, October 30th. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

Starbucks Trading Up 4.1%

SBUX opened at $82.88 on Thursday. The firm has a market cap of $94.21 billion, a price-to-earnings ratio of 50.54, a PEG ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a fifty day moving average price of $84.09 and a 200-day moving average price of $87.47.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. 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. Starbucks’s dividend payout ratio is presently 151.22%.

Starbucks Company 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.