Riverview Trust Co Trims Stock Holdings in Starbucks Corporation $SBUX

Riverview Trust Co decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 71.4% in the second quarter, HoldingsChannel.com reports. The fund owned 716 shares of the coffee company’s stock after selling 1,789 shares during the period. Riverview Trust Co’s holdings in Starbucks were worth $66,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Napa Wealth Management acquired a new stake in Starbucks during the 1st quarter valued at approximately $1,435,000. Personal CFO Solutions LLC raised its holdings in shares of Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock worth $908,000 after purchasing an additional 5,151 shares during the last quarter. First Manhattan CO. LLC. grew its position in Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock worth $43,777,000 after purchasing an additional 111,015 shares during the period. Fox Run Management L.L.C. acquired a new stake in Starbucks during the 1st quarter worth about $998,000. Finally, Norden Group LLC grew its position in Starbucks by 66.1% during the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company’s stock worth $2,964,000 after purchasing an additional 12,027 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBUX has been the subject of a number of analyst reports. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Stifel Nicolaus lifted their target price on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Sanford C. Bernstein raised their price target on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Citigroup dropped their price target on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $104.00.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $84.40 on Thursday. The business’s 50 day moving average price is $87.86 and its 200-day moving average price is $88.77. The firm has a market capitalization of $95.94 billion, a PE ratio of 36.38, a P/E/G ratio of 5.12 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 announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion during 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 previous year, the business posted $0.93 EPS. As a group, analysts expect that Starbucks Corporation will post 2.99 earnings per share 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 paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. 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. Starbucks’s dividend payout ratio is currently 105.17%.

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.