Gables Capital Management Inc. Sells 150 Shares of Starbucks Corporation $SBUX

Gables Capital Management Inc. trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,065 shares of the coffee company’s stock after selling 150 shares during the quarter. Gables Capital Management Inc.’s holdings in Starbucks were worth $281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the second quarter worth $25,000. Chelsea Counsel Co. bought a new stake in shares of Starbucks during the second quarter worth $26,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the first quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its position 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 worth $28,000 after purchasing an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks during the first quarter worth $29,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

SBUX stock opened at $85.90 on Wednesday. The business has a 50-day moving average price of $85.42 and a 200 day moving average price of $87.40. The company has a market capitalization of $97.64 billion, a P/E ratio of 37.03, a PEG ratio of 4.24 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 released 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SBUX shares. Cowen reiterated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Evercore ISI reiterated an “outperform” rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. BMO Capital Markets reiterated an “outperform” rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Guggenheim lifted their price objective on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.60.

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.