Starbucks Corporation $SBUX Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management lowered its stake in Starbucks Corporation (NASDAQ:SBUX) by 4.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 30,767 shares of the coffee company’s stock after selling 1,437 shares during the quarter. Bar Harbor Wealth Management’s holdings in Starbucks were worth $2,819,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in Starbucks during the 1st quarter worth $1,379,619,000. Jennison Associates LLC acquired a new stake in Starbucks during the 1st quarter worth $817,759,000. Polen Capital Management LLC acquired a new stake in Starbucks during the 1st quarter worth $503,539,000. Goldman Sachs Group Inc. boosted its stake in Starbucks by 59.5% during the 1st 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 during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Starbucks by 22.3% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 1.5%

Shares of SBUX stock opened at $80.04 on Thursday. The company’s 50-day moving average price is $86.84 and its 200-day moving average price is $88.25. The stock has a market cap of $90.98 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 4.01 and a beta of 1.01. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates 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 was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company 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 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 3.1%. Starbucks’s payout ratio is currently 105.17%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent research reports. CICC Research initiated coverage on shares of Starbucks in a research note on Monday, June 30th. They set an “outperform” rating and a $100.00 target price on the stock. Citigroup lowered their target price on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Bank of America lifted their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Loop Capital set a $165.00 target price on shares of Starbucks in a research note on Tuesday, August 12th. Finally, Cowen reissued a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

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.