Starbucks Corporation $SBUX Shares Sold by Bank of New Hampshire

Bank of New Hampshire trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 32.0% during the second quarter, Holdings Channel.com reports. The firm owned 357 shares of the coffee company’s stock after selling 168 shares during the quarter. Bank of New Hampshire’s holdings in Starbucks were worth $33,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SBUX. Brighton Jones LLC increased its holdings in shares of Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after purchasing an additional 81,952 shares during the period. Twinbeech Capital LP bought a new position in Starbucks during the fourth quarter valued at about $368,000. Westwood Holdings Group Inc. bought a new position in Starbucks during the fourth quarter valued at about $380,000. Waters Parkerson & CO. LLC boosted its stake in Starbucks by 6.7% during the fourth quarter. Waters Parkerson & CO. LLC now owns 3,968 shares of the coffee company’s stock valued at $362,000 after buying an additional 250 shares in the last quarter. Finally, Vident Advisory LLC boosted its stake in Starbucks by 6.3% during the fourth quarter. Vident Advisory LLC now owns 83,878 shares of the coffee company’s stock valued at $7,654,000 after buying an additional 4,985 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup decreased their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, July 30th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Price Performance

Shares of Starbucks stock opened at $84.37 on Wednesday. The firm has a market cap of $95.90 billion, a price-to-earnings ratio of 36.37, a P/E/G ratio of 4.94 and a beta of 1.00. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a 50-day simple moving average of $90.02 and a 200-day simple moving average of $90.20.

Starbucks (NASDAQ:SBUX) last announced 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). The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 earnings per share. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, August 15th. Starbucks’s payout ratio is currently 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.