Starbucks Corporation $SBUX Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 31.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,474 shares of the coffee company’s stock after selling 1,118 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Starbucks were worth $227,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC acquired a new position in Starbucks in the 2nd quarter worth about $25,000. Hughes Financial Services LLC acquired a new position in Starbucks in the 1st quarter worth about $27,000. Chelsea Counsel Co. acquired a new position in Starbucks in the 2nd quarter worth about $26,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks during the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. CICC Research assumed coverage on Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Piper Sandler set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a report on Wednesday, July 30th. Loop Capital set a $165.00 target price on Starbucks in a report on Tuesday, August 12th. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Price Performance

SBUX stock opened at $87.22 on Tuesday. The business has a 50 day simple moving average of $84.90 and a 200-day simple moving average of $87.51. The firm has a market capitalization of $99.14 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 4.32 and a beta of 1.01. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 earnings per share. On average, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. 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 annualized dividend and a yield of 2.8%. 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.