Starbucks Corporation $SBUX Shares Sold by Impact Capital Partners LLC

Impact Capital Partners LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 12.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,424 shares of the coffee company’s stock after selling 623 shares during the quarter. Impact Capital Partners LLC’s holdings in Starbucks were worth $405,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Starbucks by 125.2% in the first 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. McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks in the first quarter worth approximately $29,000. Nova Wealth Management Inc. boosted its position in shares of Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after acquiring an additional 234 shares during the last quarter. Finally, Activest Wealth Management boosted its position in shares of Starbucks by 78.0% in the first quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research analyst reports. Guggenheim raised their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Stifel Nicolaus raised their target price on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Bank of America raised their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, TD Cowen reaffirmed a “hold” rating and set a $95.00 price target on shares of Starbucks in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.00.

Starbucks Stock Down 0.2%

SBUX opened at $84.40 on Thursday. The firm has a market capitalization of $95.94 billion, a P/E ratio of 36.38, a P/E/G ratio of 5.12 and a beta of 1.01. The firm’s 50 day moving average is $87.86 and its 200-day moving average is $88.77. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted 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 firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 EPS. Equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal 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 paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) 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.