Mitsubishi UFJ Trust & Banking Corp Trims Stake in Starbucks Corporation $SBUX

Mitsubishi UFJ Trust & Banking Corp lessened its position in Starbucks Corporation (NASDAQ:SBUX) by 1.1% in the second quarter, HoldingsChannel reports. The firm owned 494,211 shares of the coffee company’s stock after selling 5,601 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Starbucks were worth $45,285,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. Chelsea Counsel Co. bought a new position in shares of Starbucks in the 2nd quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its position in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Starbucks during the first quarter worth about $29,000. Finally, Nova Wealth Management Inc. grew its holdings in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after purchasing an additional 234 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SBUX shares. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Morgan Stanley set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the stock an “outperform” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Stock Up 1.0%

Shares of Starbucks stock opened at $87.26 on Thursday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company’s 50 day moving average is $83.79 and its 200 day moving average is $87.56. The company has a market cap of $99.19 billion, a price-to-earnings ratio of 53.21, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. Starbucks’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.62 dividend. The ex-dividend date of this dividend 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 yield of 2.8%. Starbucks’s payout ratio is 151.22%.

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.