Rathbones Group PLC Sells 21,163 Shares of Starbucks Corporation $SBUX

Rathbones Group PLC trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 58.0% during the 2nd quarter, Holdings Channel reports. The fund owned 15,330 shares of the coffee company’s stock after selling 21,163 shares during the period. Rathbones Group PLC’s holdings in Starbucks were worth $1,405,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Delta Financial Advisors LLC lifted its position in shares of Starbucks by 1.1% in the 2nd quarter. Delta Financial Advisors LLC now owns 22,283 shares of the coffee company’s stock worth $2,042,000 after purchasing an additional 253 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Starbucks by 1.9% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,264,216 shares of the coffee company’s stock valued at $207,470,000 after buying an additional 42,847 shares during the period. Parkside Financial Bank & Trust raised its stake in Starbucks by 2.1% in the second quarter. Parkside Financial Bank & Trust now owns 7,730 shares of the coffee company’s stock worth $708,000 after buying an additional 160 shares in the last quarter. Aviva PLC lifted its holdings in Starbucks by 7.0% during the second quarter. Aviva PLC now owns 849,034 shares of the coffee company’s stock worth $77,797,000 after buying an additional 55,842 shares during the period. Finally, Prospera Financial Services Inc boosted its position in Starbucks by 3.8% during the 2nd quarter. Prospera Financial Services Inc now owns 55,484 shares of the coffee company’s stock valued at $5,086,000 after acquiring an additional 2,031 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on SBUX shares. Loop Capital set a $165.00 price target on Starbucks in a research report on Tuesday, August 12th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. UBS Group set a $94.00 price target on shares of Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. 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, JPMorgan Chase & Co. increased their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average target price of $100.50.

Starbucks Stock Performance

Shares of SBUX stock opened at $84.60 on Tuesday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm has a market capitalization of $96.16 billion, a price-to-earnings ratio of 51.59, a PEG ratio of 4.28 and a beta of 1.02. The stock’s 50-day simple moving average is $83.85 and its 200-day simple moving average is $87.54.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. This is an increase 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%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is 151.22%.

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.