Whittier Trust Co. of Nevada Inc. Decreases Stake in Starbucks Corporation $SBUX

Whittier Trust Co. of Nevada Inc. cut its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,711 shares of the coffee company’s stock after selling 577 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Starbucks were worth $4,188,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Narwhal Capital Management raised its stake in Starbucks by 39.6% during the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after purchasing an additional 9,282 shares during the period. PUREfi Wealth LLC purchased a new position in Starbucks during the second quarter worth about $286,000. Napa Wealth Management purchased a new position in Starbucks during the first quarter worth about $1,435,000. Morningstar Investment Management LLC purchased a new position in Starbucks during the second quarter worth about $653,000. Finally, Pegasus Asset Management Inc. purchased a new position in Starbucks during the second quarter worth about $1,289,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of SBUX stock opened at $85.90 on Wednesday. The stock has a market capitalization of $97.64 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 4.24 and a beta of 1.01. The company has a 50 day moving average price of $85.42 and a 200 day moving average price of $87.40. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during 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 company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 EPS. On average, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared 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 a boost 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 dividend payout ratio (DPR) is presently 105.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SBUX shares. Guggenheim lifted their price target 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Barclays lifted their price target on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.60.

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.