Capital & Planning LLC Sells 1,253 Shares of Starbucks Corporation $SBUX

Capital & Planning LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 9.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,677 shares of the coffee company’s stock after selling 1,253 shares during the quarter. Capital & Planning LLC’s holdings in Starbucks were worth $1,070,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new stake in Starbucks during the 1st quarter worth approximately $1,379,619,000. Jennison Associates LLC bought a new stake in shares of Starbucks in the first quarter worth $817,759,000. Polen Capital Management LLC bought a new stake in shares of Starbucks in the first quarter worth $503,539,000. Goldman Sachs Group Inc. grew its stake in shares of Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after buying an additional 3,545,655 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Cowen reiterated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. BTIG Research set a $105.00 price target on shares of Starbucks in a research report on Thursday, September 25th. Finally, Guggenheim upped their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.00.

Starbucks Trading Up 2.7%

Shares of NASDAQ:SBUX opened at $86.72 on Friday. The stock’s fifty day simple moving average is $87.72 and its two-hundred day simple moving average is $88.69. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The stock has a market cap of $98.57 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 4.15 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted 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 negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the business earned $0.93 EPS. Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a $0.62 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is presently 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.