Harbor Investment Advisory LLC Sells 1,112 Shares of Starbucks Corporation $SBUX

Harbor Investment Advisory LLC decreased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,553 shares of the coffee company’s stock after selling 1,112 shares during the period. Harbor Investment Advisory LLC’s holdings in Starbucks were worth $4,815,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SBUX. Brighton Jones LLC boosted its holdings in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Starbucks during the fourth quarter worth $710,000. Rafferty Asset Management LLC boosted its holdings in Starbucks by 16.7% during the fourth quarter. Rafferty Asset Management LLC now owns 251,470 shares of the coffee company’s stock worth $22,947,000 after purchasing an additional 35,983 shares during the last quarter. Shellback Capital LP acquired a new position in Starbucks during the fourth quarter worth $7,300,000. Finally, Steadfast Capital Management LP acquired a new position in Starbucks during the fourth quarter worth $211,970,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of several recent research reports. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a report on Wednesday, July 30th. CICC Research assumed coverage on shares of Starbucks in a research report on Monday, June 30th. They set an “outperform” rating and a $100.00 price target on the stock. Bank of America upped their price target on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Finally, TD Securities reaffirmed a “hold” rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $104.40.

Starbucks Price Performance

Shares of SBUX opened at $81.90 on Friday. The firm has a market capitalization of $93.10 billion, a PE ratio of 35.30, a PEG ratio of 4.92 and a beta of 1.00. The company’s 50-day moving average is $90.45 and its 200-day moving average is $90.79. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. Analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 3.0%. Starbucks’s dividend 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.