Starbucks Corporation $SBUX Stock Position Decreased by Whittier Trust Co.

Whittier Trust Co. lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 13.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,864 shares of the coffee company’s stock after selling 9,783 shares during the period. Whittier Trust Co.’s holdings in Starbucks were worth $5,760,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at about $25,000. Chelsea Counsel Co. bought a new stake in shares of Starbucks during the 2nd quarter valued at about $26,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the 1st quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks during the 1st quarter valued at about $29,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research report on Thursday, July 17th. Cowen restated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.60.

Starbucks Price Performance

SBUX stock opened at $85.90 on Wednesday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a market cap of $97.64 billion, a PE ratio of 37.03, a P/E/G ratio of 4.24 and a beta of 1.01. The firm has a 50 day simple moving average of $85.42 and a 200 day simple moving average of $87.40.

Starbucks (NASDAQ:SBUX) last released its earnings results 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 business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently announced 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. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

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.