CNB Bank Has $361,000 Holdings in Starbucks Corporation $SBUX

CNB Bank decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 19.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,938 shares of the coffee company’s stock after selling 974 shares during the period. CNB Bank’s holdings in Starbucks were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. PKO Investment Management Joint Stock Co bought a new position in Starbucks during the 2nd quarter worth $2,749,000. Sage Mountain Advisors LLC increased its holdings in Starbucks by 2.5% during the 2nd quarter. Sage Mountain Advisors LLC now owns 9,695 shares of the coffee company’s stock worth $888,000 after purchasing an additional 232 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Starbucks by 1.5% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,757,230 shares of the coffee company’s stock worth $252,645,000 after acquiring an additional 40,053 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in Starbucks by 12.5% in the second quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 9,000 shares of the coffee company’s stock valued at $825,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in shares of Starbucks by 6.6% in the second quarter. Catalyst Capital Advisors LLC now owns 2,049 shares of the coffee company’s stock worth $188,000 after buying an additional 126 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SBUX shares. BTIG Research set a $105.00 price objective on Starbucks in a research note on Thursday, September 25th. TD Cowen decreased their target price on shares of Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, October 10th. Guggenheim boosted their price objective 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. BMO Capital Markets reissued an “outperform” rating and set a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, Citigroup dropped their price objective on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a report on Monday, October 13th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $101.80.

Starbucks Trading Up 0.8%

NASDAQ SBUX opened at $86.09 on Friday. The company has a fifty day simple moving average of $85.01 and a two-hundred day simple moving average of $87.47. The stock has a market cap of $97.86 billion, a P/E ratio of 37.11, a P/E/G ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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 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% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Shareholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is an increase 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 payout ratio is 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.