Marco Investment Management LLC Sells 1,581 Shares of Starbucks Corporation $SBUX

Marco Investment Management LLC lessened its position in Starbucks Corporation (NASDAQ:SBUX) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,798 shares of the coffee company’s stock after selling 1,581 shares during the quarter. Marco Investment Management LLC’s holdings in Starbucks were worth $3,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC bought a new stake in Starbucks in the 2nd quarter worth approximately $25,000. Chelsea Counsel Co. bought a new position in Starbucks during the second quarter valued at approximately $26,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks during the first quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks in the 1st quarter valued at $29,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $85.57 on Friday. The company has a market capitalization of $97.27 billion, a P/E ratio of 52.18, a P/E/G ratio of 4.28 and a beta of 1.02. The company has a fifty day moving average of $83.92 and a 200 day moving average of $87.46. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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 business had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the business posted $0.80 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several analyst reports. Bank of America lifted their price objective on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Loop Capital set a $165.00 target price on shares of Starbucks in a report on Tuesday, August 12th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a report on Thursday, July 17th. Finally, Citigroup cut their target price on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.