Stiles Financial Services Inc Cuts Holdings in Starbucks Corporation $SBUX

Stiles Financial Services Inc trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 18.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,928 shares of the coffee company’s stock after selling 908 shares during the quarter. Stiles Financial Services Inc’s holdings in Starbucks were worth $360,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. KRS Capital Management LLC increased its holdings in Starbucks by 12.5% during the second quarter. KRS Capital Management LLC now owns 3,662 shares of the coffee company’s stock valued at $336,000 after buying an additional 406 shares during the period. Coerente Capital Management grew its holdings in Starbucks by 0.4% in the second quarter. Coerente Capital Management now owns 210,020 shares of the coffee company’s stock worth $19,244,000 after purchasing an additional 906 shares during the last quarter. Callan Family Office LLC grew its holdings in Starbucks by 170.7% in the second quarter. Callan Family Office LLC now owns 32,642 shares of the coffee company’s stock worth $2,991,000 after purchasing an additional 20,582 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Starbucks by 4.1% in the second quarter. Capital Advisors Ltd. LLC now owns 5,478 shares of the coffee company’s stock worth $502,000 after purchasing an additional 214 shares during the last quarter. Finally, Game Plan Financial Advisors LLC purchased a new position in Starbucks in the second quarter worth $25,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays lifted their price target on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. CICC Research assumed coverage on shares of Starbucks in a report on Monday, June 30th. They issued an “outperform” rating and a $100.00 price target on the stock. TD Cowen reaffirmed a “hold” rating and issued a $95.00 price target on shares of Starbucks in a report on Thursday, September 25th. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, Cowen reissued a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $104.00.

Starbucks Price Performance

NASDAQ SBUX opened at $79.78 on Friday. The company has a market capitalization of $90.69 billion, a PE ratio of 34.39, a P/E/G ratio of 3.95 and a beta of 1.01. The company has a fifty day moving average of $86.65 and a 200 day moving average of $88.14. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to analyst estimates 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 prior year, the firm earned $0.93 earnings per share. Research 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 given 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 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio 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.