Starbucks Corporation $SBUX Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC cut its stake in Starbucks Corporation (NASDAQ:SBUX) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,008 shares of the coffee company’s stock after selling 6,195 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Starbucks were worth $15,944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Game Plan Financial Advisors LLC purchased a new stake in Starbucks in the second quarter valued at approximately $25,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks in the 2nd quarter valued at $26,000. Hughes Financial Services LLC purchased a new stake in Starbucks in the 1st quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its stake in Starbucks by 125.2% during the 1st 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 period. Finally, McClarren Financial Advisors Inc. purchased a new position in Starbucks during the 1st quarter worth $29,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. CICC Research assumed coverage on shares of Starbucks in a report on Monday, June 30th. They issued an “outperform” rating and a $100.00 target price for the company. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the company an “overweight” rating in a research report on Thursday, October 16th. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Guggenheim upped their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.80.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $85.50 on Thursday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The firm has a market capitalization of $97.19 billion, a P/E ratio of 36.85, a PEG ratio of 4.31 and a beta of 1.01. The company’s fifty day moving average is $85.25 and its two-hundred day moving average is $87.39.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS 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 company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given 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 yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

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.