Starbucks Corporation $SBUX Shares Sold by Kennebec Savings Bank

Kennebec Savings Bank cut its position in Starbucks Corporation (NASDAQ:SBUX) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,729 shares of the coffee company’s stock after selling 192 shares during the period. Kennebec Savings Bank’s holdings in Starbucks were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Napa Wealth Management acquired a new position in Starbucks during the first quarter worth $1,435,000. Personal CFO Solutions LLC boosted its stake in 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 buying an additional 5,151 shares during the last quarter. First Manhattan CO. LLC. boosted its stake in Starbucks by 33.1% during the first quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock worth $43,777,000 after buying an additional 111,015 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Starbucks during the first quarter worth $998,000. Finally, Norden Group LLC boosted its stake in Starbucks by 66.1% during the first quarter. Norden Group LLC now owns 30,219 shares of the coffee company’s stock worth $2,964,000 after buying an additional 12,027 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 0.2%

SBUX stock opened at $84.40 on Thursday. The company 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 12-month low of $75.50 and a 12-month high of $117.46. The business’s fifty day moving average price is $87.86 and its 200 day moving average price is $88.77.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (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 firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal 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 dividend of $0.62 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Analysts Set New Price Targets

A number of research firms have weighed in on SBUX. Loop Capital set a $165.00 price objective on Starbucks in a research note on Tuesday, August 12th. BTIG Research set a $105.00 price objective on Starbucks in a research note on Thursday, September 25th. UBS Group boosted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Stifel Nicolaus upped their price target on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Bank of America upped their price target on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.00.

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.