Grimes & Company Inc. Decreases Holdings in Starbucks Corporation $SBUX

Grimes & Company Inc. lowered its position in Starbucks Corporation (NASDAQ:SBUX) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,368 shares of the coffee company’s stock after selling 544 shares during the quarter. Grimes & Company Inc.’s holdings in Starbucks were worth $1,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SBUX. Alliance Wealth Advisors LLC grew its stake in shares of Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after buying an additional 108 shares during the last quarter. Brown Lisle Cummings Inc. boosted its holdings in Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after acquiring an additional 117 shares during the period. Diligent Investors LLC grew its position in Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after acquiring an additional 117 shares during the last quarter. Ted Buchan & Co increased its stake in Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after purchasing an additional 120 shares during the period. Finally, Alexander Labrunerie & CO. Inc. lifted its position in Starbucks by 3.5% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after purchasing an additional 122 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 5.0%

Shares of Starbucks stock opened at $82.11 on Tuesday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a market capitalization of $93.33 billion, a P/E ratio of 35.39, a P/E/G ratio of 4.25 and a beta of 1.01. The business has a fifty day simple moving average of $87.33 and a two-hundred day simple moving average of $88.35.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts predict 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. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SBUX shares. BMO Capital Markets restated an “outperform” rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Wells Fargo & Company raised their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Cowen reaffirmed a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. Sanford C. Bernstein increased their target price on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, Bank of America boosted their price target on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

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.